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Hong Kong set to approve its first spot bitcoin ETFs in April, sources say

Reuters · 1y

Bitcoin spot exchange-traded funds (ETFs) may be introduced in Hong Kong this month, making it the first city in Asia to offer this investment option. Regulators have accelerated the approval process in an effort to improve Hong Kong's status as a global financial hub. Several Chinese and Hong Kong asset managers have filed applications to launch these ETFs. The launch of spot bitcoin ETFs in the US earlier this year attracted around $12 billion in net inflows. Bitcoin's value has increased by over 60% this year, reaching an all-time high of $73,803 in March.