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Bitcoin And Ether Climb As Firms Approve Crypto ETFs In Hong Kong

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Asia,Ether,Hong Kong

I am a senior reporter for the Forbes breaking news team, covering health and science from the London office. Previously I worked as a reporter for a trade publication covering big data and law and as a freelance journalist and policy analyst covering science, tech and health.

Hong Kong has authorized its first exchange-traded funds tracking digital assets bitcoin and ether, according to statements from multiple issuers on Monday, boosting the wider market and making the city Asia’s first to offer the popular products after the U.S. launched the first spot bitcoin ETFs earlier this year.

These include the Hong Kong units of Harvest Fund Management and a partnership between Bosera Asset Management and Hashkey Capital, which said they had been approved to list the crypto products in Hong Kong. The Hong Kong unit of China Asset Management also said it had secured regulatory approval and is investing to develop the crypto products.

The social media announcements appear to have jumped the gun on an official announcement from the SFC, which has not issued an official statement on the approvals and did not immediately respond to Forbes’ request for comment.Bitcoin and ether have risen around 3% and 6% over the last 24 hours, respectively, and were each trading above $66,000 and $3,250 early Monday morning.

 

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