Hong Kong: BTC ETF Advertising on Buses

Date: 2024-04-08 Author: Henry Casey Categories: BUSINESS
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Cryptocurrency researcher Colin Wu tweeted that one BTC ETF issuer in Hong Kong has begun advertising the cryptocurrency on local buses, noting Bitcoin's 45% rise in the first two months of 2024.

Ten institutions are already preparing to file applications to launch Bitcoin spot funds in Hong Kong, and also announced plans to list an ETF on Ethereum (ETH) in March 2024, although these activities are still in the discussion stage.

Asian Regulators Initiative

Interest in spot ETFs in Hong Kong arose following the successful launch of similar products in the United States. Asian regulators began accepting applications for spot crypto funds at the end of last year, expecting approval in the US in the near future.

The role of investment institutions

The head of HashKey Exchange, Weng Xiaoqi, emphasized that cryptocurrency products are mainly offered by large investment institutions from the US and EU, and the lack of spot BTC ETFs in Asia could lead to financial losses for the entire region.

Xiaoqi confirmed that Hashkey is actively working on the potential launch of spot Bitcoin ETFs and other cryptocurrency derivatives in Hong Kong in the coming months.
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