OSL Awaits Approval for Bitcoin ETFs in Hong Kong

OSL has announced its plans to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong by the end of April. This development is seen as a significant progress for the crypto market. CEO Patrick Pan mentioned that despite ongoing efforts to expedite the process, the definite launch dates for these ETFs are still unclear. ETF Launch Process The Securities and Futures Commission (SFC) of Hong Kong gave principle approval for asset management companies, including ChinaAMC and Harvest, to offer spot Bitcoin and Ethereum ETFs. OSL will act as the custodian and infrastructure service provider for these ETFs. Katie He, Product and Strategy Director at ChinaAMC, anticipates high demand for the soon-to-be-launched spot crypto ETFs, especially from non-professional investors in Hong Kong who face restrictions in accessing US-based spot Bitcoin ETFs. Warnings and Expectations Bloomberg Senior ETF Analyst Eric Balchunas mentioned high expectations for the launch of spot crypto […]

OSL Awaits Approval for Bitcoin ETFs in Hong Kong

OSL has announced its plans to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong by the end of April. This development is seen as a significant progress for the crypto market. CEO Patrick Pan mentioned that despite ongoing efforts to expedite the process, the definite launch dates for these ETFs are still unclear.

ETF Launch Process

The Securities and Futures Commission (SFC) of Hong Kong gave principle approval for asset management companies, including ChinaAMC and Harvest, to offer spot Bitcoin and Ethereum ETFs. OSL will act as the custodian and infrastructure service provider for these ETFs.

Katie He, Product and Strategy Director at ChinaAMC, anticipates high demand for the soon-to-be-launched spot crypto ETFs, especially from non-professional investors in Hong Kong who face restrictions in accessing US-based spot Bitcoin ETFs.

Warnings and Expectations

Bloomberg Senior ETF Analyst Eric Balchunas mentioned high expectations for the launch of spot crypto ETFs in Hong Kong, but modest beginnings are expected due to market size and local access restrictions. There is also discussion about the possibility of these ETFs being included in the Southbound Stock Connect program.

Useful Information

OSL aims to launch spot crypto ETFs in Hong Kong by the end of April.
These ETFs will offer US investors the opportunity to invest in spot Bitcoin and Ethereum.
The small scale of the Hong Kong ETF market may limit initial growth expectations.
The possibility of including these ETFs in the Southbound Stock Connect program could increase access for mainland Chinese investors.

In conclusion, the launch of spot Bitcoin ETFs in Hong Kong is considered a significant step for the global crypto market. However, the success of these ETFs may vary depending on local and global economic factors.

how to buy crypto?
Related Posts

Token Lock Releases and the Market Impact of ID Token

News 4 weeks ago

The cryptocurrency ecosystem closely monitors token lock release events, especially with great attention. Within the next week, it is indicated that token lock releases worth approximately $45.80 million will take place. These events can significantly affect market fluctuations. Particularly, ID, the local token of the Space ID platform that provides domain services in blockchain networks, is one of the key tokens that investors keep an eye on. ID Token Lock Release The lock release of the ID token, which will show an increase in supply of approximately 4.29%, will take place on April 22 at 03:00. This event can affect the market value of the ID token and the interest of investors in this token. Currently, the token is trading at $0.849 level and investors are closely monitoring this process. ID Chart Analysis According to the four-hour chart analysis of the ID token, an exit from the falling channel formation […]

Analysis of XRP Coin on SEC Lawsuit and Market Impacts

News 4 weeks ago

The ongoing legal process with the SEC has been affecting the market evaluations of XRP coin. Lawyers are set to present their appeals on Monday. Experts indicate that the increase in circulation supply will make it difficult for XRP to reach its former highs. Nevertheless, the recent short-term recovery in its price is promising. Market Dynamics and Price Movements Following recent losses, XRP has risen by 5.55% to $0.53. While its losses were greater compared to other cryptocurrencies, it is currently showing signs of recovery. Legal evaluations, court documents, and other details may positively or negatively impact XRP’s price in the future. Throughout 2024, the market has been on the rise while XRP has been lagging behind other altcoins. It lost 15% this year, while Bitcoin showed a 35% increase. This underperformance of XRP has prevented its growth even in high-risk appetite days. Investor Interest and Expectations Some investors may […]

The Strong Structure of Cardano (ADA) Treasury and ADA Coin Price Predictions

News 4 weeks ago

Cardano’s (ADA) treasury holds 1.5 billion ADA, which accounts for more than 4% of the circulating supply and is worth around $720 million with the current market value. These funds in the treasury are used to support the ecosystem and finance new projects. The Cardano ecosystem aims to create a self-sustaining structure using this balance. Features of the Cardano Ecosystem Cardano has a decentralized structure and allows ADA owners to vote democratically. This structure strengthens decentralization and democratic governance. The funds in the treasury increase through network activity, and a portion of transaction fees and block rewards accumulate in the treasury. The community votes on the use of these funds to finance projects. However, despite the expansion of Cardano’s smart contract capabilities, the number of applications that attract a significant and large user base on the network remains insufficient. The Future of ADA Coin According to technical analysis expert Ali […]

0 Comment

Write a Comment

how to buy crypto?
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • bitcoinBitcoin(BTC)
    $67,093.001.41%
  • ethereumEthereum(ETH)
    $3,103.422.57%
  • tetherTether(USDT)
    $1.000.05%
  • binancecoinBNB(BNB)
    $580.050.62%
  • solanaSolana(SOL)
    $173.122.77%
  • usd-coinUSDC(USDC)
    $1.000.04%
  • staked-etherLido Staked Ether(STETH)
    $3,100.602.67%
  • rippleXRP(XRP)
    $0.520.63%
  • dogecoinDogecoin(DOGE)
    $0.1552161.36%
  • the-open-networkToncoin(TON)
    $6.43-4.13%
Random