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Hong Kong is poised to launch its first spot crypto ETFs by the end of April, closely following trends in the United States. This initiative marks a significant step in the region’s commitment to the cryptocurrency sector. The forthcoming ETFs, including Bitcoin and Ethereum options, are part of Hong Kong’s broader strategy to establish itself as a leader in the tightly regulated virtual asset market. The debut, set for April 30, is the result of over a year’s efforts by the city to enhance its stature as a global financial hub, according to a HashKey spokesperson in an interview with Bloomberg.
The city, which already allows trading in futures crypto ETFs like CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures, aims to expand its offerings with these spot crypto ETFs. Despite the modest $175 million currently managed by the futures ETFs, projections suggest the new spot ETFs could manage around $1 billion by 2026, per Bloomberg Intelligence ETF Analyst Rebecca Sin. This development is anticipated to significantly bolster Hong Kong’s reputation and influence in the international financial landscape.
