Techlinker Asia’s Post

Hong Kong has approved the launch of exchange-traded funds (ETFs) directly investing in bitcoin and ether, the two largest cryptocurrency tokens globally. Bosera Asset Management Co.'s overseas arm and HashKey Capital have received "conditional approval" from the Securities and Futures Commission (SFC) to roll out spot crypto ETFs, marking a significant move for the city in the volatile virtual asset sector. Chinese fund managers Harvest International and China Asset Management Company (ChinaAMC) have also secured approval. This makes Hong Kong the first market in Asia and the first global finance hub to approve spot ether ETFs. The green light for spot crypto ETFs is expected to simplify access to cryptocurrency investments for mainstream investors and pave the way for increased adoption in the financial market. The conditional approval allows applicants to move forward with preparations to offer the funds, such as applying to Hong Kong Exchanges and Clearing Limited (HKEX) to offer them on the local stock exchange. #ETF #DigitalAssets #VirtualAssets #Bitcoin #Ether #HongKong #FinTech I South China Morning Post SCMP I Xinmei Shen

I am thrilled to share that I was recently interviewed by Radio Television Hong Kong (RTHK) regarding the approval of spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong! In the interview, I highlighted the positive impact this move will have on Hong Kong's financial landscape. By treating cryptocurrencies as mainstream investment tools, we are paving the way for Hong Kong to become Asia's leading hub for virtual assets. This development not only boosts our status as a financial center but also attracts traditional investors who can now access crypto assets through familiar trading mechanisms, eliminating concerns about managing cryptocurrency keys and storage. The approval of these crypto ETFs sends a strong signal to the traditional securities trading markets and players, urging them to embrace crypto trading with a fresh perspective. The progress we are witnessing signifies a significant transition and development in the virtual asset industry. #DigitalFinance #CryptoETFs #FinTech #Blockchain #愚公移山 Hong Kong Digital Finance Association Securities and Futures Commission (SFC) Feel free to connect with me on LinkedIn for further discussions and updates on the exciting developments in the digital finance space. Original post: https://lnkd.in/giUrWNjS Voice recording: https://lnkd.in/gJTwFhpV

🇭🇰Incredible to see that Hong Kong be the first jurisdiction in the world to allow spot Ethereum ETFs while being the first in Asia to approve spot Bitcoin ETFs. Regulators in Hong Kong certainly acted swiftly and at the forefront. 📈These ETFs essentially are traditional financial assets "wrapper" of cryptocurrency and will be accessible to investors who are already trading on Hong Kong stock exchange. 🏦The 3 Chinese asset managers Harvest Global Investments Limited, Bosera Asset Management Co. and China Asset Management Co., Ltd. have so far either received approval in principle or received authorisation to provide virtual asset management services. https://lnkd.in/gAmvnYrd #hongkong #spot #bitcoin #ETH #ETF #approval #harvestglobal #bosera #chinaAMC

🚀 Hong Kong Conditionally Approves Spot #Bitcoin and #Ethereum ETFs! Hong Kong's Securities and Futures Commission has conditionally approved Bitcoin and Ethereum ETFs, a major advancement for the crypto sector as well as the city's financial market. The city is becoming a significant hub for virtual asset investment, with Bitcoin and Ethereum ETFs allowing "in-kind" subscriptions, differing from the U.S.'s cash-create model. These ETFs are expected to attract more institutional investors and bolster Hong Kong's reputation as a global finance leader. In the U.S., the approval timeline for Ethereum ETFs remains uncertain, with most expecting a decision by late 2024. https://lnkd.in/gx2tk7nF #ETFs #HongKong #crypto #web3 --- Passionate about Web3, crypto, NFTs, or the metaverse? Join Blockchain Perspectives! We provide a platform for you to share insights, connect with enthusiasts, and expand your reach, whether you're an expert or a beginner. Become a key influencer in the Web3 community by sharing your perspective where it matters. Visit us at https://lnkd.in/gCSek2cn and start making an impact!

Very interesting development for crypto in Asia.

Hong Kong Approves First Batch Of Spot Bitcoin, Ether ETFs In Drive To Become #Crypto Hub. Hong Kong has reportedly approved the applications of several spot #bitcoin and #ether exchange-traded funds. Specifically, China Asset Management, #Bosera Asset Management, and #HashKey have received approval from the Hong Kong Securities and Futures Commission to offer retail asset management services related to spot crypto #ETFs. While the firms did not disclose the timeline of the launch, the approval of these ETFs is expected to provide investors with new asset allocation opportunities and strengthen Hong Kong's position as an international financial center and virtual asset hub. #blockchain #ethereum #fintech #familyoffices #wealthmanagement https://lnkd.in/ed2i-WZN

The Hong Kong Securities and Futures Commission has authorized the listing of exchange-traded funds tracking either Bitcoin or Ethereum. The approval is a milestone for Hong Kong, which continues to push for becoming a global hub for a regulated crypto industry. But, as my article points out, "The real hope for Hong Kong’s industry is not to attract pension funds. It’s to attract the vast horde of mainland-based investors who are desperate to get their money overseas." I argue that such flows aren't going to be forthcoming any time soon. https://lnkd.in/gktrjNSQ #crypto #hongkong #etf #bitcoin #ethereum #stockconnect

🚀 Exciting News for Crypto Enthusiasts and Investors! 🚀 Hong Kong has officially approved the first-ever spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs)! This marks a significant milestone in the financial world and opens up new opportunities for investors looking to diversify their portfolios with digital assets. 🔹 What This Means: The approval signifies Hong Kong's progressive stance on cryptocurrency and its commitment to becoming a global hub for blockchain and financial innovation. This move not only legitimizes digital assets but also provides a safer and regulated pathway for institutional and retail investors to gain exposure to Bitcoin and Ethereum. 🔹 Opportunities Ahead: For investors, this means better access to cryptocurrencies without the complexities of direct ownership, like managing wallets and private keys. It also potentially introduces a new wave of liquidity and stability within the crypto markets. 🔹 Looking Forward: As we witness the integration of traditional and digital finance, it’s an opportune time to stay informed and consider how innovations like these fit into broader investment strategies. How do you see this development impacting the future of investment in digital assets? 🌐💼 #CryptoNews #BitcoinETF #EthereumETF #DigitalAssets #InvestmentOpportunities #HongKong #AltfundManagement

It is very exciting to see that Hong Kong regulators have given the go-ahead for the launch of bitcoin and ether ETFs. This marks a major step forward in the adoption of cryptocurrencies in global financial markets. It is as if Hong Kong is opening the door to a new chapter in the evolution of cryptocurrencies, becoming a truly regulated hub for this growing industry. Investor interest is palpable, as ETFs offer them a more convenient and regulated way to participate in cryptocurrency price movements, without having to manage digital currencies themselves. This could lead to an acceleration of capital flow into the cryptocurrency market, especially from traditional investors who may have been reluctant to enter this sector until now due to the lack of regulated instruments. However, there are still some unknowns to consider, such as the possibility of mainland Chinese investors accessing cryptocurrency ETFs through Hong Kong, given the existing regulatory situation. This could have a significant impact on the volume of capital flowing into these new financial products. Furthermore, the fact that Hong Kong is ahead of the curve in approving ETFs on ether compared to the US highlights the differences in regulatory approvals between different jurisdictions. It could be interesting to see how these differences are reflected in how investors approach the cryptocurrency market. All in all, this is very positive news that could have a lasting impact on how investors access cryptocurrencies and could lead to greater acceptance and adoption of these digital assets in global financial markets. #ArBitTech #CryptoETF #HongKongRegulation #Bitcoin #Ether #CryptocurrencyNews #Blockchain #ETFs