Hong Kong Set to Launch Bitcoin and Ethereum Spot ETFs on Monday

Sources: According to insiders familiar with the matter, Hong Kong's Securities and Futures Commission (SFC) is poised to approve spot ETFs directly investing in Bitcoin and Ethereum as of Monday.

Harvest Fund Management Co.'s international arm, Bosera Asset Management (International) Co., and HashKey Capital are anticipated to secure approval for spot-to-crypto ETFs, although sources have requested anonymity.

Both companies await approval from the SFC and Hong Kong Exchanges & Clearing Ltd. They plan to launch the ETFs by month-end, pending finalization of listing details, with a flexible timetable subject to potential last-minute adjustments.

This announcement follows recent news that Harvest intended to seek approval for a spot-Bitcoin ETF in the region. Earlier in April, the SFC granted permission to Harvest and China Asset Management for fund management services linked to virtual assets.

The introduction of spot Bitcoin ETFs in the US on January 11 catalyzed a resurgence in crypto markets this year. With 11 ETFs accumulating nearly $59 billion in assets, Bitcoin surged to a record high of $73,798 in mid-March.