According to a Bloomberg source, Hong Kong could soon issue Bitcoin and Ethereum ETFs. Fund managers such as Harvest Fund Management, Bosera Asset Management, and HashKey might receive clearance early Monday.
These ETFs, set to debut by the end of the month, underscore Hong Kong's prominence as China's crypto powerhouse.
Amid economic concerns, Chinese investors seek diversification abroad, most notably in Hong Kong. The situation has evolved since China's cryptocurrency crackdown. Nonetheless, the curiosity endures, traversing the regulatory jungle. Hong Kong's move could signal a softer stance on cryptocurrency, perhaps opening doors for mainland investors, but with conditions.
The move to launch Ethereum ETFs, still pending in the United States, reflects Hong Kong's desire to attract worldwide investors. Despite the SEC's concerns about Ethereum ETFs, U.S. investors may be able to access them through international brokers.
The success of these ETFs is dependent on mainland China's reception, which shapes the future of Chinese investment and, potentially, its opening to the world market.
