Hong Kong’s regulator plans to launch a mainstream crypto ETF
Ming Pao reported on October 31 that Hong Kong is the latest region to announce plans to launch a cryptocurrency exchange-traded fund (ETF) targeting mainstream cryptocurrencies such as Bitcoin (BTC). According to Leung Fung Yee, CEO of the Hong Kong Securities and Futures Commission (SFC), the agency has been actively working on establishing a mechanism to authorize the ETF. In addition, the official stated that the mechanism is primarily concerned with enacting the necessary legislation to govern the ETF. Although the crypto sector has challenges such as high volatility, Yee stated that the decision to investigate an ETF came after