Author: Lianhe Zaobao
The Hong Kong Securities and Futures Commission announced that it is ready to accept virtual asset spot ETFs and other funds With the approval application, Hong Kong is expected to become the first market in Asia to accept the listing of spot ETFs for virtual assets such as Bitcoin and Ethereum.
Based on reports from China News Service and Dagong.com, the Hong Kong Securities Regulatory Commission issued a circular to the industry on Friday (December 22) announcing the above news. However, the circular reminds that although virtual assets are becoming more and more popular in some parts of the world, regulatory situations around the world are still inconsistent. Therefore, spot virtual assets still have problems such as lack of transparency in pricing and potential market manipulation.
The circular said that because retail investors may generally not understand the above risks, virtual asset products are "likely to be regarded as complex products." The circular also emphasizes that virtual asset spot funds approved by the Hong Kong Securities and Futures Commission must trade virtual asset spot funds on a virtual asset trading platform licensed by the Hong Kong Securities and Futures Commission.
HKEX welcomes the SFC’s announcement. Luo Boren, head of securities product development at the Hong Kong Stock Exchange, said that the SFC’s announcement means that Hong Kong will become the first market in Asia to allow the listing of virtual asset spot ETFs, strengthening Hong Kong’s position as the leading digital asset center in the region and supporting Hong Kong’s position as Asia’s first choice The continued development of the ETF market.
Luo Boren said that the Hong Kong Stock Exchange is ready to seize the opportunities brought by thematic investment and will work closely with issuers and all stakeholders to provide The Hong Kong ETF market has successfully introduced this new product. HKEX is committed to further enhancing Hong Kong’s attractiveness and competitiveness as an international financial center and bringing more diversified choices to the market and investors.
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