# Ethereum ETF Approval Could Come Monday

Source: https://decrypt.co/226104/ethereum-etf-hong-kong-approval-report
Kiwi News: https://news.kiwistand.com/stories/Ethereum-ETF-Approval-Could-Come-Monday?index=0x661a381a2a5c4f82f92abbda4c88a3ea09d0a7935ab47d302f7f9bf0684ec9668530ec10
Submitted by misha on 2024-04-13 UTC, 6 upvotes, 3 comments

## Summary

Hong Kong could approve spot Ethereum and Bitcoin ETFs as soon as Monday, according to a Friday Bloomberg report cited in the article. The report says Chinese asset managers Harvest Fund Management, Bosera Asset Management, and HashKey Capital are expected to receive regulatory approval for ETFs on the two top digital assets. The article notes that the approval would come less than a week before the Bitcoin halving and amid fading prospects for spot Ethereum ETFs in the U.S. HashKey Capital's involvement dates back to January, when the Singapore-based firm announced a $500 million fund focused on blockchain initiatives. The three firms did not immediately respond to Decrypt's request for comment.

## Article

Spot Ethereum and Bitcoin ETFs could get the green light in Hong Kong as soon as Monday, less than a week ahead of the Bitcoin halving—a milestone expected to precede a surge in the price of BTC.

According to a Friday report from Bloomberg, Chinese asset management firms Harvest Fund Management, Bosera Asset Management, and HashKey Capital are expected to get regulatory approval for ETFs for the top two digital assets. The news comes amid fading prospects for spot Ethereum ETFs in the U.S.

Hong Kong and the Hong Kong Stock Exchange (HKEX) are key global financial hubs and major gateways to Chinese markets. HKEX ranks alongside the New York Stock Exchange (NYSE) as among the world's largest exchanges by market capitalization.

A Bitcoin ETF is a product managed by an investment firm that buys and holds the actual Bitcoin, with the price pegged to the value of the Bitcoin held in the fund. Ethereum ETFs work the same way. The funds are listed on a traditional stock exchange, and investors trade the ETF like other stocks.

Speculation that HashKey Capital would be one of the firms set to offer Bitcoin and Ethereum ETFs dates back to January when the Singapore-based company announced raising a $500 million fund focused on advancing blockchain technology initiatives.

The Chinese government has taken a hard line stance against individual Bitcoin mining operations and trading. However, cryptocurrencies and blockchain technology are doing relatively well. Last year, China launched a blockchain research hub in Beijing.

While American regulators have dragged their feet in approving crypto-based ETFs, Asian markets—including Japan, South Korea, and Singapore—are apparently ramping up the availability of digital asset investment products.

The increasing interest in Bitcoin and the approval of ETFs across different regions, including in the United States, will likely lead investors in Hong Kong to snap up the latest investment product.

Harvest Fund Management, Bosera Asset Management, and HashKey Capital did not immediately respond to Decrypt’s request for comment.

Edited by Ryan Ozawa.

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## Comments

**tim**: *In Hong Kong 😅

**misha**: lol I must admit it is a bit misleading head. But also makes you think that we always assume that all stuff is happening in America. 

**macbudkowski.eth**: - Mom, I want Ethereum ETF.
- We have Ethereum ETF at home.
- Ethereum ETF at home: