Hong Kong Securities Supervision Commission may approve the first batch of virtual currency ETFs at the end of April

Harvest International, China Asset Management and Bosera Funds, three Chinese-funded fund companies, have said they plan to launch bitcoin and ether spot ETFs respectively, which have the potential to become the first Ether spot ETFs in the world. It is reported that the Securities Supervision Commission is expected to approve the first batch of virtual currency ETFs in one go at the end of April, similar to the situation in the United States. The Securities and Exchange Commission (SEC) approved 11 bitcoin spot ETFs in January this year.
The Securities Supervision Commission responded that the investment products approved by the Securities Supervision Commission will be listed on the list of investment products offered for sale on the association's website. The association continued that if the applied ETF products generally meet the requirements of the association, a conditional power of attorney will be issued, but various conditions must still be complied with, including payment of relevant fees, submission of documents, and listing approval from the Hong Kong Stock Exchange (0388). It is believed that the applicant fund company will submit an application to the Hong Kong Stock Exchange in the next step.