The Times Australia
Business and Money

Hong Kong To Introduce Spot Crypto ETFs Tomorrow: Here is What You Need to Know


Hong Kong is preparing to launch spot Bitcoin and Ether exchange-traded funds (ETFs) trading on April 30. The cryptocurrency community will welcome this as a huge milestone in the global growth of regulated crypto investment products. 

An important turning point in the global adoption of regulated cryptocurrency investment products is being reached as Hong Kong gets ready to introduce spot trading for Bitcoin and ETFs. The Alpha AI platform, renowned for its innovative solutions in financial technology, is facilitating this integration of cryptocurrencies into conventional financial markets, which is gaining steam.

3 Chinese firms will launch crypto ETFs

China Asset Management, Bosera Asset Management, and Harvest Global Investments are expected to launch crypto ETFs on the Hong Kong Stock Exchange (HKEX) on that date through their Hong Kong branches. 

This event comes after the groundbreaking launch of spot Bitcoin ETFs in the US in January 2024. It shows that cryptocurrencies are becoming more accepted and are being integrated into regular financial markets.

As the Hong Kong ETF start date gets closer, we have gathered important information about this soon-to-be-traded product that shows how cryptocurrency investments and market dynamics are changing.

In-Kind Crypto ETFs In Hong Kong Vs. Cash-Create ETFs In the United States

How Hong Kong's spot crypto ETFs are constructed will set them apart from those developed in the United States. These exchange-traded funds (ETFs) are expected to be formed "in-kind" in Hong Kong. This means that if new ETF shares are required, intermediaries will utilize actual cryptocurrencies such as Bitcoin to fund them. 

Due to the fact that spot Bitcoin exchange-traded funds (ETFs) in the United States are "cash-created," middlemen are unable to use Bitcoin directly. Rather than that, they will give cash to the issuers of the ETF. 

A consequence of this distinction is that exchange-traded funds (ETFs) in Hong Kong will be backed by genuine cryptocurrencies, but in the United States, they would be backed by dollars.

Hong Kong’s Spot Ether ETF Will Not Be the First One In The World

The introduction of a spot Ether exchange-traded fund (ETF) in Hong Kong is notable because it will offer in-kind spot cryptocurrency ETFs and a spot Ether ETF, which will be the first of its kind in the region. 

In contrast to the United States, where proposals for spot Ether ETFs are extremely likely to be rejected and subject to delays, Hong Kong continues to move forward. Since April 2021, Canada has been the world's leader in the approval of ether futures exchange-traded funds. 

Canada has five Ether ETFs, demonstrating its leadership in cryptocurrency investment goods. Purpose, Evolve, CI Galaxy, 3iQ CoinShares, and Fidelity Advantage are examples.

Times Magazine

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an onli...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beau...

5 Ways Microsoft Fabric Simplifies Your Data Analytics Workflow

In today's data-driven world, businesses are constantly seeking ways to streamline their data anal...

7 Questions to Ask Before You Sign IT Support Companies in Sydney

Choosing an IT partner can feel like buying an insurance policy you hope you never need. The right c...

Choosing the Right Legal Aid Lawyer in Sutherland Shire: Key Considerations

Legal aid services play an essential role in ensuring access to justice for all. For people in t...

Watercolor vs. Oil vs. Digital: Which Medium Fits Your Pet's Personality?

When it comes to immortalizing your pet’s unique personality in art, choosing the right medium is ...

The Times Features

Do kids really need vitamin supplements?

Walk down the health aisle of any supermarket and you’ll see shelves lined with brightly packa...

Why is it so shameful to have missing or damaged teeth?

When your teeth and gums are in good condition, you might not even notice their impact on your...

Australian travellers at risk of ATM fee rip-offs according to new data from Wise

Wise, the global technology company building the smartest way to spend and manage money internat...

Does ‘fasted’ cardio help you lose weight? Here’s the science

Every few years, the concept of fasted exercise training pops up all over social media. Faste...

How Music and Culture Are Shaping Family Road Trips in Australia

School holiday season is here, and Aussies aren’t just hitting the road - they’re following the musi...

The Role of Spinal Physiotherapy in Recovery and Long-Term Wellbeing

Back pain and spinal conditions are among the most common reasons people seek medical support, oft...

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than t...

It’s OK to use paracetamol in pregnancy. Here’s what the science says about the link with autism

United States President Donald Trump has urged pregnant women[1] to avoid paracetamol except in ...

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board ...