Approval of Bitcoin Spot ETFs by Hong Kong’s Securities and Futures Commission
Hong Kong's Securities and Futures Commission recently approved Bitcoin spot ETFs, allowing the city to strengthen its position as a leading hub for these financial products in Asia. Several major asset managers are now ready to offer Bitcoin ETFs, including HashKey Capital, which has announced that its product will begin trading next Tuesday.
Support from OSL and expected investor support
In addition to HashKey, OSL, a digital asset platform, will also support the launch of spot Bitcoin ETFs by providing sub-custody and infrastructure services. This move is expected to attract significant investor interest from both Hong Kong and globally.
Impact on the Bitcoin market and the asset class
Experts, including those at Matrixport and 10x Research, estimate that the launch of these ETFs could potentially attract up to $25 billion in new investments, which would have a significant impact on the Bitcoin market and contribute to the recognition of Bitcoin as a legitimate asset class.
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