Summary
Hong Kong’s securities regulator has conditionally approved spot Bitcoin and Ethereum ETF applications from China Asset Management, Harvest Global Investments, and Bosera Asset Management. OSL will act as the sub-custodian partner for the ETFs. This approval comes as the U.S. SEC has approved Bitcoin ETFs but has been hesitant to approve a spot Ethereum ETF. Despite China’s crackdown on cryptocurrency, Hong Kong is positioning itself as a crypto hub with the introduction of a Virtual Asset Trading Platform licensing regime in June 2023.
Key Points
1. Hong Kong’s securities regulator has given conditional approval for a number of spot Bitcoin and Ethereum ETF applications by China Asset Management and Harvest Global Investments.
2. Digital asset platform OSL will act as the “sub-custodian partner” for China Asset Management and Harvest Global Investments’ ETFs.
3. Bosera Asset Management also received conditional approval for its ETF application, which will be jointly managed with HashKey Capital.