Bitcoin (BTC) experienced a 2.8% increase over the past 24 hours and is now priced above $66,500, while ether (ETH) climbed up to $3,240 based on CoinDesk Indices data. Noteworthy news emerged from Hong Kong as several crypto exchange-traded funds (ETFs) received approval for spot trading.
China Asset Management, Bosera Capital and other applicants posted to social-media platform WeChat (Weixin) that they had been approved to list spot bitcoin and ether ETFs in Hong Kong. However, these announcements seem to have front-run an official statement from the Securities and Futures Commission (SFC), which has not posted a list of approved issuers. Some of the posts have since been deleted.
The SFC did not return emails or phone calls asking for comment.
QCP Capital, a digital asset trading firm based in Singapore, stated to CoinDesk that they expect approved ETFs (Exchange-Traded Funds) to generate interest from institutions during Asian business hours.
“Previously, those seeking market access were restricted to American business hours according to QCP. Now, they can opt for an Asian institution-focused alternative, which we expect will bring short-term gains. However, other significant factors like macroeconomic events hold more weight in the long run.”
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2024-04-15 11:08