NatalieLopez
10 Apr 24
Hong Kong is poised to approve the first round of spot bitcoin exchange-traded fund (ETF) applications next week, as reported on Wednesday. These ETFs enable both institutional and retail traders to access bitcoin without direct investment in the underlying asset. In the U.S., these products launche...
Hong Kong is poised to approve the first round of spot bitcoin exchange-traded fund (ETF) applications next week, as reported on Wednesday. These ETFs enable both institutional and retail traders to access bitcoin without direct investment in the underlying asset. In the U.S., these products launched earlier this year and experienced significant popularity, contributing to bitcoin's price surge to a record high of $73.8K in March. Additionally, the first spot BTC ETF in Europe began trading in August 2023. According to Reuters, at least four entities, including the Hong Kong units of China Asset Management, Harvest Fund Management, and Bosera Asset Management, have submitted applications to introduce spot bitcoin ETFs in Hong Kong. In midafternoon trading on Wednesday, bitcoin edged up 0.5% to $69.3K.
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