Hong Kong is set to become Asia’s first city to introduce spot Bitcoin exchange-traded funds (ETFs), with the first approvals expected to be announced next week.
This milestone outpaces industry expectations, which expected such launches later in the year. The move was facilitated by regulators hastening the approval process to position the city as a pioneer in the region for embracing financial trading instruments linked directly to Bitcoin.
The initiative follows the launch of the first U.S.-listed ETFs tracking spot Bitcoin in January, which garnered $12 billion in net inflows. Bitcoin’s valuation has surged by over 60% this year,…
