As cryptocurrency becomes more mainstream in the world, Hong Kong looks to join in with the announcement for plans to launch a crypto ETF looking to track popular cryptocurrencies like Bitcoin. The Hong Kong Securities and Futures Commission (SFC) has stated that they’re actively looking for a mechanism to ensure the appropriate laws are in place for launch. There’re are additional requirements for cryptocurrency ETFs due to the high volatility that comes with them.
ETF Newz Says:
Hong Kong has said they’re open to developing their fintech industry, looking into NFTs, the metaverse, and Web3.