Hong Kong Gives Initial Approval for Spot-Bitcoin and Ether ETFs [BNN Bloomberg (Canada)]
CITIC SECURITIES UNSP/ADR (CIIHY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
China Asset Management, Harvest Global Investments and a partnership between HashKey Capital Ltd. and Bosera Asset Management (International) Co. all announced initial approvals in separate statements on Monday. ChinaAMC is working with OSL Digital Securities Ltd. and BOCI-Prudential Trustee on the new products. Hong Kong is vying with the likes of Singapore and Dubai to establish itself as a hub for digital-asset firms. The city rolled out a regulatory regime for virtual-asset service providers in June 2023. The crypto market got a boost from the authorities' decision to give a green light for spot funds. Bitcoin extended gains, climbing as much as 4.1% to about $66,500, while Ether added 6.1% to reach $3,257. --With assistance from Kiuyan Wong. ©2024 Bloomberg L.P.
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