Hong Kong plans to green light crypto ETFs
The Securities and Futures Commission is planning to allow certain crypto exchange-traded funds (ETFs) to be sold to investors in the southern Chinese city and will also launch a public consultation on potentially allowing retail investors to trade virtual assets (VA).
The news comes as senior officials outlined plans, at the opening sessions of Hong Kong FinTech Week, to try to turn the city into a global center for the digital asset industry. ETFs with underlying assets in instruments linked to bitcoin and ether futures traded on the Chicago Mercantile Exchange (CME) would likely be the first such products to be approved, Julia Leung, deputy chief executive officer at the SFC said in a conference speech.
Source
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