Hong Kong Securities and Exchange Commission conditionally approves Hashiki-Bosera BTC-ETH Spot ETF

The Hong Kong Securities and Futures Commission (SFC) has conditionally approved the proposed Bosera-Hashiki Bitcoin Spot ETF and Bosera-Hashiki ETH Spot ETF from Chinese asset managers Harvest Fund, Bosera Asset Management and Hashiki Capital, according to Foresight News. The asset managers' products will be listed on the Hong Kong Stock Exchange and will track the price of BTC and ETH. Earlier, Bloomberg, citing sources, reported that the joint venture between Harvest Funds and Bosera Asset Management-Hashiki Capital plans to launch Bitcoin and Ethereum ETFs later this month after receiving approval from Hong Kong authorities. "The Hong Kong authorities' approval to list crypto spot ETFs paves the way for traditional financial institutions to include crypto in their portfolios," said Hashiki Capital. It is also expected to significantly increase access to crypto for retail investors," said Hashiki Capital. This is the first time a BTC spot ETF has been approved in Hong Kong.

Meanwhile, the Hong Kong subsidiary of China's Huaxia Fund announced that it has been authorized by the Hong Kong Securities and Futures Commission (SFC) to provide crypto asset management services. Huaxia Funds plans to launch Bitcoin and Ethereum (ETH) spot ETF products. Huaxia Fund is one of the largest funds in China, with $266 billion in total assets under management (AUM) as of December 2023.