Summary
Fund issuers are likely to launch crypto ETFs in Hong Kong soon, following approvals in the US and UK. This move could lead to more institutional investors entering the market and better price discovery. Other countries like South Korea, Japan, and Singapore may also approve similar products in the near future. The UK and Australia are also making progress in allowing access to crypto ETFs.
Key Points
1. Fund issuers are likely to launch crypto ETFs in Hong Kong soon, potentially leading to wider acceptance of such funds in Asia.
2. The SEC’s approval of 10 spot bitcoin ETFs in the US marked a significant shift in policy and resulted in $12.5 billion in net inflows to these funds.
3. Hong Kong-based fund issuers are planning to launch spot bitcoin and ether ETFs, pending official approval from the Securities and Futures Commission.