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Hong Kong Eyes Debut of Spot Crypto ETFs by Mid-2024

Hong Kong is reportedly indicating that the city will see the launch of its first spot crypto ETFs by the middle of 2024

Hong Kong is reportedly indicating that the city will see the launch of its first spot crypto exchange-traded funds (ETFs) by the middle of 2024.

Key players in Hong Kong’s crypto exchange landscape, including OSL Hong Kong and HashKey, are actively investigating this development.

Gary Tiu, an executive at OSL Hong Kong, predicts that spot crypto ETFs will make their debut in the city within the coming months.

According to reports, 5–10 companies are currently exploring this avenue, with approximately five making significant progress in this initiative.

Tiu emphasizes the importance of maintaining reasonable fees, especially in a market with only two licensed cryptocurrency exchanges in Hong Kong.

Keeping fees reasonable is viewed as critical for the successful introduction of these ETFs, as it fosters a favorable environment for market orders, provides investor protection, and strengthens ties between digital and traditional finance.

HashKey, another major player in the Hong Kong crypto exchange scene, is also actively discussing the potential launch of spot crypto ETFs in collaboration with asset managers.

According to Livio Weng, COO of HashKey, around 10 firms are considering the introduction of such ETFs, indicating increased interest and momentum in this space.

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Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.