Summary
The South Korean government is urging the financial regulator to reconsider approving a local spot bitcoin exchange-traded fund (ETF). The government is exploring ways to incorporate foreign affairs into local regulations, indicating potential openness to launching spot crypto ETFs. However, Singapore and Thailand have stated that they are not considering local spot bitcoin ETFs. Regional experts suggest that Hong Kong could be the next hub in Asia to introduce a local spot crypto ETF, with 10 fund managers looking into launching such ETFs in the city.
Key Points
1. The Office of the President in South Korea is urging the financial regulator to reconsider approving a local spot bitcoin exchange-traded fund (ETF). This indicates the country’s openness to launching spot crypto ETFs.
2. Singapore and Thailand have stated that they are not considering the possibility of a local spot bitcoin ETF. The Monetary Authority of Singapore has stated that spot bitcoin ETFs are not approved for offering to local retail investors.
3. Hong Kong could potentially become the next hub in Asia to introduce a local spot crypto ETF. The city’s financial regulators have published circulars addressing the requirements for such ETFs, and several fund managers are exploring the launch of spot crypto ETFs in Hong Kong.