Hong Kong Bitcoin ETF scheduled for trading on April 30: HashKey Capital
The Hong Kong Securities and Futures Commission recently approved Bitcoin spot ETFs for several major asset managers, paving the way for Hong Kong to become a leading hub for these products.
This approval comes after months of anticipation and marks a significant milestone for the Asian Bitcoin industry.
Just arrived: 🇭instagram Hong Kong branch #Bitcoin ETF begins trading April 30: HashKey Capital
Asia is ready 🚀 pic.twitter.com/TDfNZTqPQU
— Bitcoin Magazine (@BitcoinMagazine) April 24, 2024
Domestic asset management company HashKey Capital has confirmed that its Bitcoin ETF will begin trading next Tuesday. In a statement, a spokesperson for the company acknowledged the launch date, making it one of the first companies to offer a spot Bitcoin ETF in Hong Kong.
OSL, a digital asset platform that acts as a sub-custodian and infrastructure services provider for two major fund managers, also said it aims to launch a spot Bitcoin product as early as the end of April. The news further solidifies Hong Kong’s position as a leader in the race to provide investors with access to Bitcoin through traditional financial products.
Elsewhere, some of China’s top asset managers are in the final stages of preparing a spot Bitcoin ETF to potentially begin trading by the end of April.
The development is expected to attract significant interest from investors both inside and outside Hong Kong.
A Hong Kong spot Bitcoin ETF could unlock and generate up to $25 billion in new demand, according to a forecast by Markus Thielen, founder of Singapore-based cryptocurrency services provider Matrixport and 10x Research.
This influx of capital could have a major impact on Bitcoin and legitimize it as an asset class.
