Hong Kong SFC approves Bitcoin and Ethereum spot ETFs

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Several prominent asset management companies, including China Asset Management (Hong Kong), Bosera Capital, and HashKey Capital Limited, have announced that their applications for Bitcoin and Ethereum spot exchange-traded funds (ETFs) have been approved by the Hong Kong Securities and Futures Commission (SFC). This approval allows investors to directly use Bitcoin and Ethereum to subscribe for corresponding ETF shares.

China Asset Management (Hong Kong), an asset management company in the Hong Kong market and an overseas subsidiary of China Asset Management, has received approval from the SFC to provide virtual asset management services to investors. The company now plans to issue ETF products that can invest in spot Bitcoin and spot Ethereum.

To facilitate this endeavor, China Asset Management (Hong Kong) has partnered with OSL Digital Securities Co., Ltd., a leading player in the virtual asset industry, and BOC International Prudential Trusteeship Ltd., a prominent custodian. Together, they are actively researching and deploying strategies to offer these innovative investment products to their clients.

China Asset Management, established in Hong Kong in 2008, was among the first batch of Chinese asset management companies to expand overseas. Its parent company, China Asset Management, is one of the largest fund companies in China, with total assets under management exceeding US$266 billion as of December 31, 2023.

Over the past 16 years, China Asset Management (Hong Kong) has developed a strong local investment research team and offers a diversified range of products, including long-term stock and bond funds, hedge funds, ETFs, leveraged/inverse products, and separate accounts. The company is committed to providing investment advisory services to individual and institutional investors across Hong Kong, Greater China, Asia Pacific, Europe, and the United States.

In addition to China Asset Management (Hong Kong), Harvest Global Investments has also announced that the SFC has approved in principle their Bitcoin and Ethereum digital asset spot ETF products.

The approval of these spot ETFs by the Hong Kong Securities and Futures Commission marks a significant milestone in the integration of traditional finance and the rapidly growing digital asset space. It demonstrates the increasing acceptance and legitimization of cryptocurrencies as an investable asset class and is expected to attract more institutional and retail investors to the market.

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