The first wave of crypto exchange-traded funds is readying to enter the market in Hong Kong. This will help further the city’s ambitions to become a leading digital asset hub.
Bosera International has received approval from the Securities and Futures Commission (SFC) to expand its business scope to include virtual asset management, according to a statement. In partnership with HashKey Capital, the Shenzhen-based firm plans to co-launch spot exchange-traded funds (ETF) for Bitcoin and Ethereum.
In a separate statement, China Asset Management (AMC) said that it had also received SFC approval for the provision of virtual asset management services. The Beijing-headquartered asset manager will partner with OSL Digital Securities and BOCI-Prudential Trustee to launch its own Bitcoin and Ether ETFs.
This will pave the way for the first batch of crypto ETFs to enter the Hong Kong market, furthering its ambitions to become a digital asset hub. The city will also become a competitor with the US in this field, which saw the first authorization of Bitcoin ETFs in January.
