Hong Kong Could Launch Its First Spot Crypto ETF in Mid 2024: OSL Exec
Hong Kong set for first crypto ETFs mid-year, with OSL and HashKey leading the charge and a $500M goal by Venture Smart
According to local media reports, An executive from OSL Hong Kong crypto exchange, Gary Tiu expects the city to have its first spot crypto ETFs by the middle of the year. He mentioned that 5-10 companies are looking into this, with about five moving faster than others.
Tiu noted the importance of keeping fees reasonable, as there are only two licensed crypto exchanges in Hong Kong. Introducing these ETFs is significant for the city's crypto market, offering benefits like market order, investor protection, and closer ties between digital and traditional finance.
HashKey, another Hong Kong exchange, is also discussing spot crypto ETFs with asset managers. Livio Weng, HashKey's COO, reported that about ten companies are considering launching such ETFs.
Venture Smart Financial Holdings Ltd in Hong Kong plans to launch a bitcoin ETF soon with the aim of accumulating $500 million in assets by year-end, Bloomberg reported.
