Altcoins

HK SEC Expedited the Approval Process for Spot Bitcoin ETF in Hong Kong

Reported by Cointelegraph, the Securities Regulatory Commission of Hong Kong (SFC) has reportedly expedited the approval process for four spot Bitcoin exchange-traded funds (ETFs).

According to local news outlet Tencent News, the first batch of spot Bitcoin ETFs is set to be approved in the region by April 15.

The report cites multiple sources close to the Hong Kong Securities and Futures Commission, stating that the Hong Kong regulator initially planned to approve only four spot Bitcoin ETFs in the first batch.

Recent announcements suggest that while Boshi Fund and Value Partners Financial are poised to join pending regulatory approval, Harvest International and China Asset Management have already made progress in leading this cryptocurrency investment advancement.

After the Securities and Futures Commission of Hong Kong greenlights the initial set of spot Bitcoin ETFs, the Hong Kong Stock Exchange will require approximately two weeks to finalize listing procedures and related arrangements.

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