[Alpha Biz= Reporter Paul Lee] Hong Kong has approved Bitcoin and Ethereum Exchange Traded Fund (ETF) for the first time in Asia.

According to Reuters, the Hong Kong Securities and Futures Commission (SFC) approved Bitcoin and Ethereum spot ETFs applied by Chinese asset managers Harvest Fund, Bondera Asset Management and Hashki Capital on the 15th (local time).

Earlier on Jan. 10, the U.S. Securities and Exchange Commission (SEC) approved an application for listing bitcoin spot ETF submitted by 11 U.S. asset management companies, including BlackRock. Since then, 11 Bitcoin spot ETFs have attracted $ 59 billion (about 81.7 trillion won). The market expects Chinese institutional investors to enter the virtual asset market with Hong Kong's approval.

It is the second time that Bitcoin ETF has been approved after the United States and the first in the world to be approved by Ethereum ETF.

 

 

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