Hong Kong’s financial sector takes a giant leap by preparing to introduce spot cryptocurrency Exchange-Traded Funds (ETFs). The Securities and Futures Commission (SFC), in collaboration with the Hong Kong Monetary Authority, is now open for applications to bring this game-changing innovation to life. This bold move sets Hong Kong apart from China’s crypto crackdown, as the SFC lays down clear guidelines for investing in virtual assets, emphasizing licensed platforms. As part of its grand plan to become the ultimate crypto-friendly hub, Hong Kong is rolling out a retail crypto trading licensing system.