Bitcoin ETFs expected to launch in Hong Kong by mid-2024

Jan. 22, 2024

By Assad Jafri

Hong Kong is gearing up to launch its first spot crypto exchange-traded funds (ETFs) by mid-2024, a move that could redefine the landscape of digital asset investment in the region, according to Jan. 22 news reports.

Multiple firms are looking to launch spot Bitcoin ETFs within the coming months now that Hong Kong has softened its stance toward the industry and begun to establish regulatory frameworks.

ETF trend

The ETF trend is picking up steam after the U.S. SEC approved 11 spot Bitcoin ETFs on Jan. 10 after more than a decade of rejecting such products. This has caused regulators worldwide to adopt a more favorable approach toward such products and crypto.

The impending introduction of spot crypto ETFs in Hong Kong signifies a pivotal moment in integrating cryptocurrency into mainstream finance, and their launch is seen as a strategic move to capitalize on the burgeoning demand in the Asian time zone.

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