The report highlights that other Chinese public equity funds are looking into the possibility and future prospects of spot Bitcoin ETF products. This momentum towards spot crypto ETFs gathered pace in late 2023 when the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority released a joint circular recognizing the growing interest in introducing spot crypto ETFs.
Although the SFC has authorized licensed crypto providers to offer crypto futures ETFs in the area, regulatory approval for spot ETFs is still pending.