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Hong Kong regulators are expected to greenlight the first batch of applications for spot Bitcoin exchange-traded funds (ETFs) over the next week, potentially paving the way for these financial products to hit the market as soon as April . Sources close to the matter disclosed this information to Reuters, highlighting a significant development in the financial landscape.
If approved, these ETFs would mark a milestone for the Asian market, with Hong Kong and Australia becoming pioneers in offering such investment instruments. Although Singapore and the United Arab Emirates have not yet signaled their immediate intentions in this regard, Hong Kong regulators appear to be speeding up the approval process, according to statements cited in the Reuters report.
Among the entities seeking approval, Harvest Global Investments, a Chinese asset management company, and asset manager VSFG, in partnership with Value Partners, have submitted applications to the Securities and Futures Commission (SFC) for a Spot ETF, as CoinDesk reported. The report also mentioned that four entities, including the Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management, applied to launch a spot project. Bitcoin
Bitcoin
If some people still wonder what Bitcoin is, who created Bitcoin or how Bitcoin works, one thing is certain: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we've come a long way since a Florida resident, Laszlo Hanyecz, made the first official BTC business transaction with a real company by exchanging 10,000 Bitcoins for 2 pizzas at his local Papa John's. We could now assert that
If some people still wonder what Bitcoin is, who created Bitcoin or how Bitcoin works, one thing is certain: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we've come a long way since a Florida resident, Laszlo Hanyecz, made the first official BTC business transaction with a real company by exchanging 10,000 Bitcoins for 2 pizzas at his local Papa John's. We could now assert that
AND F.
🚨 BREAKING 🚨
HONG KONG IS READY TO APPROVE ITS
FIRST SPOT BITCOIN ETF IN APRIL.GIGA BULLISH 🔥 pic.twitter.com/M0eWJzcGgv
– Ash Crypto (@Ashcryptoreal) April 10, 2024
No guarantee of immediate availability on the market
Regulatory approval does not necessarily guarantee immediate market availability, as additional steps may be required before these ETFs are ready for trading. Investors and stakeholders will closely monitor developments in this area, anticipating the impact of spot Bitcoin ETFs on the broader financial landscape.
The latest Hong Kong Online Investing 2023 report from Investment Trends revealed a decline in the number of active online investors from 900,000 to 840,000, as reported by Finance Magnates. Despite this decline, there is growing optimism among investors towards local stocks, a shift towards defensive assets and increased interest in international markets.
Although the number of online investors in Hong Kong has fallen, remaining investors are showing resilience. The report suggests a projected 0.4% increase in HSI over the next year, a sign of renewed market confidence.
Hong Kong regulators are expected to greenlight the first batch of applications for spot Bitcoin exchange-traded funds (ETFs) over the next week, potentially paving the way for these financial products to hit the market as soon as April . Sources close to the matter disclosed this information to Reuters, highlighting a significant development in the financial landscape.
If approved, these ETFs would mark a milestone for the Asian market, with Hong Kong and Australia becoming pioneers in offering such investment instruments. Although Singapore and the United Arab Emirates have not yet signaled their immediate intentions in this regard, Hong Kong regulators appear to be speeding up the approval process, according to statements cited in the Reuters report.
Among the entities seeking approval, Harvest Global Investments, a Chinese asset management company, and asset manager VSFG, in partnership with Value Partners, have submitted applications to the Securities and Futures Commission (SFC) for a Spot ETF, as CoinDesk reported. The report also mentioned that four entities, including the Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management, applied to launch a spot project. Bitcoin
Bitcoin
If some people still wonder what Bitcoin is, who created Bitcoin or how Bitcoin works, one thing is certain: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we've come a long way since a Florida resident, Laszlo Hanyecz, made the first official BTC business transaction with a real company by exchanging 10,000 Bitcoins for 2 pizzas at his local Papa John's. We could now assert that
If some people still wonder what Bitcoin is, who created Bitcoin or how Bitcoin works, one thing is certain: Bitcoin changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset and its blockchain technology. In fact, we've come a long way since a Florida resident, Laszlo Hanyecz, made the first official BTC business transaction with a real company by exchanging 10,000 Bitcoins for 2 pizzas at his local Papa John's. We could now assert that
AND F.
🚨 BREAKING 🚨
HONG KONG IS READY TO APPROVE ITS
FIRST SPOT BITCOIN ETF IN APRIL.GIGA BULLISH 🔥 pic.twitter.com/M0eWJzcGgv
– Ash Crypto (@Ashcryptoreal) April 10, 2024
No guarantee of immediate availability on the market
Regulatory approval does not necessarily guarantee immediate market availability, as additional steps may be required before these ETFs are ready for trading. Investors and stakeholders will closely monitor developments in this area, anticipating the impact of spot Bitcoin ETFs on the broader financial landscape.
The latest Hong Kong Online Investing 2023 report from Investment Trends revealed a decline in the number of active online investors from 900,000 to 840,000, as reported by Finance Magnates. Despite this decline, there is growing optimism among investors towards local stocks, a shift towards defensive assets and increased interest in international markets.
Although the number of online investors in Hong Kong has fallen, remaining investors are showing resilience. The report suggests a projected 0.4% increase in HSI over the next year, a sign of renewed market confidence.
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