Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    OSL Executive Director: Hong Kong Expected to Approve Spot Crypto ETFs by Mid 2024

    • January 22, 2024

    Hong Kong may witness the launch of its first spot crypto exchange-traded funds (ETFs) by the middle of this year.

    Gary Tiu, the executive director and head of regulatory affairs at OSL, a Hong Kong-licensed cryptocurrency exchange, said OSL is in close communication with multiple fund companies. According to him, five to ten firms are considering introducing a spot crypto ETF.

    Tiu further indicated that some have made faster progress than others, raising the potential for the rollout of Hong Kong’s inaugural spot crypto ETFs by mid-2024. The Hong Kong Economic Journal also reported this on Monday.

    Tiu further acknowledged the importance of ensuring that fees associated with the collaboration between OSL and the fund companies remain reasonable as there are presently only two licensed crypto exchanges operating in the city.

    Spot Crypto ETFs to Boost Hong Kong’s Crypto Industry


    Tiu said that the introduction of spot crypto ETFs would be a significant development for the crypto industry in Hong Kong.

    He highlighted the various benefits these ETFs offer, including promoting orderly markets for underlying digital assets, establishing investor protection measures, and facilitating integration between regulated digital asset platforms and traditional financial institutions.

    Tiu’s comments follow an earlier announcement by HashKey, another licensed crypto exchange in Hong Kong, which stated that it was in discussions with asset managers exploring the potential launch of spot crypto ETFs.

    Livio Weng, the chief operating officer of HashKey, revealed that approximately ten fund companies have begun exploring the introduction of such ETFs in the city.

    In a separate development, Venture Smart Financial Holdings Ltd, a Hong Kong-based financial services firm, recently announced its plans to potentially launch a spot bitcoin ETF within the first quarter of this year.

    The company aims to grow the ETF’s assets under management to $500 million by the end of 2024, as reported by Bloomberg.

    Regulatory Reviews and Existing Policies


    Hong Kong is actively preparing to pave the way for spot crypto ETFs, with the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, announcing in December that they have reviewed their existing policies.

    The regulators published two circulars outlining the requirements for spot crypto ETFs, with the SFC emphasizing that transactions made by spot crypto ETFs should be conducted through SFC-licensed crypto platforms or authorized financial institutions.

    Currently, the city state has listed several futures-based crypto ETFs, including the Samsung Bitcoin Futures Active ETF, CSOP Bitcoin Futures ETF, and CSOP Ether Futures ETF.

    In another development, Hong Kong will host The Bitcoin Conference this year, local lawmaker Johnny Ng said in a recent post on X.

    The Bitcoin conference, the world’s largest fintech conference, is coming to Hong Kong. Let’s paint the city orange! @thebitcoinconf @bitcoinmagazine

    全球性大型的金融科技峰會比特幣峰會將會到香港舉辦,歡迎各位!#HongKong #bitcoin #ecosystem pic.twitter.com/yzKhB5BiBE

    — Johnny Ng 吴杰庄 (@Johnny_nkc) January 22, 2024

    In the wake of the United States’ approval of spot Bitcoin ETFs, Ng also called on the local government to swiftly follow suit and position the city as a leader in the cryptocurrency space.

    The post OSL Executive Director: Hong Kong Expected to Approve Spot Crypto ETFs by Mid 2024 appeared first on Cryptonews.

    Previous Article
    • Investing

    Why Should Rollbit ($RLB) Investors Move To The New Scorpion Casino Coin?

    • January 22, 2024
    View Post
    Next Article
    • Editor's Pick

    A brief history of a crazy thing called the New Hampshire primary

    • January 22, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.