Bitcoin and ether prices rose on Monday afternoon in Asia as Hong Kong gave preliminary approval to local spot crypto exchange-traded fund applications. The price of bitcoin rose 2.8% to $66,425, while ether gained 5.2% to $3,252 in the past 24 hours as of 4:15 p.m. in Hong Kong, according to The Block's price page.
Meanwhile, the GMCI 30, which measures the performance of a selection of the top 30 cryptocurrencies, gained 4.6% in the last 24 hours.The price recovery came as the Hong Kong Securities and Futures Commission gave in-principle approval to a slew of spot crypto ETF applications from local financial institutions. The list includes China Asset Management, Bosera Asset Management and HashKey Capital, and Harvest Global Investments.
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