Hong Kong's Financial Regulatory Department Plans to Launch the First Batch of Bitcoin Spot ETFs by the End of April

According to a report by Tencent Finance “Yixian”, the Hong Kong Securities and Futures Commission urgently updated the list of virtual asset management funds on April 10 in the hope of announcing the first batch of Bitcoin spot ETFs in Hong Kong before April 15.

According to the operational procedures of the Hong Kong financial regulatory authorities, after the Hong Kong Securities and Futures Commission announces the first batch of Bitcoin spot ETFs on April 15, the Hong Kong Stock Exchange will need about two weeks to prepare for product listing. However, Tencent Finance pointed out in the report that the issuer has previously communicated and planned with the Hong Kong Stock Exchange in detail regarding the issue of “Bitcoin spot ETF”, so it is expected that the preparation work can be completed in 10 days, and Hong Kong is expected to list the first batch of Bitcoin spot ETFs around April 25, at the latest by the end of April.

In addition, the report also revealed that the Hong Kong Securities and Futures Commission originally planned to approve four Bitcoin spot ETFs, including CSOP Asset Management, Huatai-PineBridge Fund Management, and WisdomTree Financial, in addition to CSOP Asset Management. However, due to the fact that Huatai-PineBridge Fund Management and WisdomTree Financial do not have independent Responsible Officers (RO) who meet the requirements for cryptocurrency asset management in Hong Kong, they did not appear in the updated list of virtual asset management funds released by the Hong Kong Securities and Futures Commission on April 10.

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