A licensed company based in Hong Kong cryptocurrency having a stock exchange HashKey, Potential spot in Hong Kong Bitcoin It completed the product features and infrastructure services required for exchange traded funds (ETFs).
HashKey Completes Infrastructure for Spot Bitcoin ETFs Amid Approval Speculation
This development comes amid expectations that the region could approve ETFs as early as next week.
Livio Weng, Chief Executive Officer of HashKey Exchange, announced in a statement that the fund issuers have completed the development of spot Bitcoin ETFs in collaboration with HashKey.
HashKey is preparing to provide significant infrastructure support for these ETFs by entering the integration and functional testing phase.
“As a funder applying for an ETF in Hong Kong, HashKey offers basic infrastructure support covering trading, custody and SSA,” Weng said.
Weng also emphasized the stability of HashKey’s custody business, which has been in operation for more than a year and boasts custody assets exceeding HK$2.2 billion ($280.7 million).
Although HashKey has not disclosed the names of the asset managers it is collaborating with, reports suggest that Hong Kong regulators may approve the first batch of spot Bitcoin ETFs as early as next week.
The approval process has reportedly been accelerated, providing a rapid regulatory response to the growing demand for crypto investment products.
At least four asset managers, including entities from China and Hong Kong, have reportedly filed to launch spot Bitcoin ETFs, according to Reuters.
In contrast to China’s tightening stance on cryptocurrency trading and mining, Hong Kong has taken a more welcoming approach towards crypto firms.
Last year, Hong Kong introduced a licensing regime for crypto trading platforms, allowing licensed exchanges to offer retail trading services. Licensed platforms include HashKey and OSL.
*This is not investment advice.
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