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CSOP Asset Management has received approval to list its Bitcoin and Ethereum exchange-traded funds (ETFs) on the Hong Kong Stock Exchange by December 16.
CryptoSlate reported on October 31 that the Hong Kong government released its Crypto Policy Statement which allowed retail investors to legally invest in crypto assets.
Simultaneously, the Hong Kong Securities and Futures Commission (SFC) has opened applications for interested ETF providers. CSOP has submitted its application to offer Bitcoin and Ethereum ETFs.
According to a Dec. 13 update, the SFC has approved CSOP’s ETF request. Therefore, CSOP Bitcoin Futures ETF (3066.HK) and CSOP Ethereum Futures ETF (3068.HK) will be listed on the Hong Kong Stock Exchange on December 16.
CSOP should entrust the underlying Bitcoin and Ethereum assets to an independent custodian. ETFs will be duly regulated by the regulatory commission, in order to avoid market manipulations that would undermine the interest of investors.
According to qq news, Huasheng Securities exclusively subscribed to CSOP’s first set of Bitcoin and Ethereum ETFs.
huasheng said:
“Cooperating with CSOP to launch the first virtual asset futures ETF in Hong Kong will provide investors with new financial management and investment options.”
CSOP added that its active promotion of virtual asset products will help Hong Kong become a global hub for cryptocurrency.
Crypto in Hong Kong
Hong Kong recently became the first city in China to take a positive stance on crypto.
Hong Kong official John Lee’s October 19 proposal saw the region establish a regulatory body to regulate and license providers of virtual assets.
The Crypto Policy Statement issued by the Hong Kong government on October 31 showed its interest in crypto and the directive allowing retail investors to gain direct exposure to crypto.
The Hong Kong government has also declared its willingness to adopt the technologies underlying crypto assets to improve its existing payment system.
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Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMiZWh0dHBzOi8vY3J5cHRvc2xhdGUuY29tL2hvbmcta29uZy1zdG9jay1leGNoYW5nZS10by1saXN0LWNzb3AtYXNzZXQtbWFuYWdlbWVudHMtYml0Y29pbi1ldGhlcmV1bS1ldGYv0gFraHR0cHM6Ly9jcnlwdG9zbGF0ZS5jb20vaG9uZy1rb25nLXN0b2NrLWV4Y2hhbmdlLXRvLWxpc3QtY3NvcC1hc3NldC1tYW5hZ2VtZW50cy1iaXRjb2luLWV0aGVyZXVtLWV0Zi8_YW1wPTE?oc=5 The mention sources can contact us to remove/changing this article |
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