Hong Kong Could Approve Spot Bitcoin, Ether ETFs as Early as Monday: Bloomberg

Expectations for Hong Kong to approve the ETF products are seen as one of the biggest market-moving events for the cryptocurrencies in the near term.

AccessTimeIconApr 12, 2024 at 11:56 a.m. UTC
Updated Apr 12, 2024 at 5:19 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now
  • Hong Kong may approve spot bitcoin and ether ETFs as soon as Friday, with possible trading by the end of the month, Bloomberg reported, citing sources.
  • The approval timeline isn’t fixed and could be changed at the last minute, the sources said.

Hong Kong could approve spot bitcoin (BTC) and ether (ETH) exchange-traded funds as early as Monday, Bloomberg reported, citing two people familiar with the matter.

If listing details are worked out in time with Hong Kong Exchanges & Clearing (HKEX), the products could be launched by the end of the month, the report said.

Harvest Global Investments, a major asset-management company in China, which was reportedly the first to apply for a spot bitcoin exchange-traded fund (ETF), and a product by Bosera Asset Management (International) Co. and HashKey Capital, could be the first to get approvals.

The approval timeline isn’t fixed and remains subject to last-minute changes, the people said.

Hong Kong's approval of the ETF products is seen as one of the biggest market-moving events for cryptocurrencies and could establish Hong Kong as Asia's leading digital asset hub.

While the U.S. approved spot-bitcoin ETFs in January, leading to a record price rally that has seen bitcoin hitting $73K, it hasn't yet approved ether ETFs.

Hong Kong's Securities and Futures Commission (SFC), the city's market regulator, declined to comment.

Harvest Global Investments, Bosera Asset Management, Hashkey and HKEX, didn't immediately respond to CoinDesk's requests for comment sent after business hours on Friday.

UPDATE (April 12, 2024, 12:35:00 UTC): Adds details throughout.

Edited by Sheldon Reback.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Amitoj Singh

Amitoj Singh is a CoinDesk reporter.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.