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Hong Kong First Spot Crypto ETF Revolution: OSL and HashKey Spearhead Launch with a $500M Ambition by Venture Smart
Hong Kong First Spot Crypto ETF– Anticipating a groundbreaking development, Hong Kong is poised to introduce its first-ever spot crypto ETFs by the middle of this year, according to statements by Gary Tiu, an executive from OSL Hong Kong crypto exchange. OSL and HashKey are positioned at the forefront of this initiative, with Venture Smart setting an ambitious goal of raising $500 million.
Local media reports suggest that 5-10 companies are exploring the launch of spot crypto ETFs in Hong Kong, with around five entities progressing faster than others. Tiu emphasized the importance of maintaining reasonable fees, especially given that Hong Kong has only two licensed crypto exchanges.
The introduction of these ETFs is expected to have a transformative impact on the city’s crypto market, offering advantages such as market order facilitation, investor protection, and fostering closer connections between digital and traditional finance.
Hong Kong First Spot Crypto ETF- HashKey Explores Spot Crypto ETFs in Collaboration with Asset Managers
Expanding the momentum in Hong Kong’s cryptocurrency scene, HashKey, another prominent exchange in the region, is engaged in discussions with asset managers about the potential launch of spot crypto ETFs.
According to Livio Weng, HashKey’s Chief Operating Officer (COO), approximately ten companies are in deliberations to initiate such ETFs, reflecting the growing interest and collaboration within the Hong Kong crypto ecosystem.
Hong Kong First Spot Crypto ETF- Venture Smart’s Ambitious Bitcoin ETF Plans
In tandem with these developments, Venture Smart Financial Holdings Ltd in Hong Kong is gearing up to launch a bitcoin ETF. Bloomberg reports indicate that the company aims to accumulate $500 million in assets by the end of the year through this venture.
Anticipated Mid-2024 Launch for Bitcoin ETFs in Hong Kong #Anticipated #Bitcoin #ETFs #Hong #Kong #Launch #Mid2024https://t.co/OHMiiCLU9V
— cryptoinfonet (@cryptoinfonet1) January 23, 2024
This strategic move aligns with the broader trend of increasing interest in cryptocurrency investment vehicles, signifying a potentially significant evolution in Hong Kong’s crypto financial landscape.
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