Hong Kong is gearing up to approve the first batch of spot Bitcoin ETFs in the region by Apr. The report says the Hong Kong regulator initially planned to approve only four spot Bitcoin ETFs in the first batch.
However, the latest changes revealed that at least two applications didn’t meet the requirements for crypto asset management in Hong Kong. The timing and recipients of permission to offer the first spot Bitcoin ETFs in the region remain uncertain.
China Southern Fund as well as Harvest Fund, Jiashi Fund, Huaxia Fund, and Southern Fund have submitted applications via their Hong Kong arms and are awaiting regulatory approval. Once the Securities and Futures Commission of Hong Kong approves the first batch of spot Bitcoin ETFs, the Hong Kong Stock Exchange will need about two weeks to prepare for product listing and other matters.