[Alpha Biz= Reporter Paul Lee] Reuters reported on the 25th that in-kind Exchange Traded Fund (ETF) trading between Bitcoin and Ethereum, the two major virtual currencies, will begin in Hong Kong on the 30th.
Three asset management companies, which were approved ETFs for virtual assets from the Hong Kong Securities and Futures Commission on the 15th, said the previous day, "We are preparing products with the aim of starting trading on April 30."
The three companies approved by the Hong Kong Securities and Regulatory Authorities are China's largest asset management company, the Huaxia Fund (ChinaAMC), the Harvest Fund Management, and the joint venture of Bondera Asset Management and Hashki Capital.
This makes Hong Kong the first Asian market to trade bitcoin spot ETFs after the United States in January.
Once the deal begins, Hong Kong, which has competed with Singapore and Dubai for the hub of virtual asset institutions, is expected to strengthen its status.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
