Hong Kong Poised to Unveil First Spot Bitcoin ETFs on April 15

Hong Kong’s securities regulator is set to approve the first batch of Spot Bitcoin ETFs on April 15, with availability expected to start two weeks later, according to Tencent News. Financial analysts project the first Spot Bitcoin ETF in Hong Kong to reach a size of $20 billion, although this would be smaller than similar products in the US. The Securities and Futures Commission (SFC) recently updated its list of authorized fund companies, including Harvest Global Investment and China Asset Management, enabling them to issue crypto-related fund products such as Spot Bitcoin ETFs. Hong Kong signaled its willingness to approve such ETFs in December and has laid out clear guidelines for intermediaries involved in their distribution. The SFC has specified that spot crypto investment products must adhere to the same regulatory requirements as traditional mutual funds and other investment products. The regulator also stated that the products cannot have leveraged exposure and must collaborate with pre-approved exchanges for all asset trading and acquisition activities. Around 10 fund management companies are said to be actively preparing to launch Spot Bitcoin ETFs in Hong Kong. Despite embracing digital assets to some extent, Hong Kong remains known for its strict regulations in this sector.