About ten investment firms in Hong Kong are gearing up to launch virtual asset spot Exchange-Traded Funds (ETFs). Currently, 13 Bitcoin spot ETFs are awaiting approval and release from the U.S. Securities and Exchange Commission (SEC). Livio Weng, Chief Operating Officer of HashKey Group, stated in an interview, “Approximately ten fund companies in Hong Kong are preparing for ETFs, with 7-8 of them already in the actual listing stage.”
This move follows the announcement in December 2023 by the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority, indicating their readiness to accept applications for virtual asset spot ETFs. This suggests that Hong Kong is poised to play a significant role in the virtual asset market.
