By Summer Zhen and Jason Xue
HONGKONG/SHANGHAI (Reuters) -Hong Kong conditionally approved its first spot bitcoin and ether exchange traded funds (ETFs) on Monday, money managers said, paving the way for the city to become Asia’s first to accept the cryptocurrencies as a mainstream investment tool.
At least three offshore Chinese asset managers will launch the virtual asset spot ETFs soon.
The Hong Kong units of Harvest Fund Management and Bosera Asset Management said in separate statements they had received conditional approvals from the Hong Kong Securities and Futures Commission (SFC) to launch the ETFs.
Meanwhile, the Hong Kong unit of…
