Hong Kong Based Chinese Firms Starts Ethereum ETF’s on Monday

Hong Kong-based companies are launching Ethereum ETFs on Monday. According to sources familiar with the matter, the Hong Kong Securities and Futures Commission (SFC) is preparing to approve spot ETFs that invest directly in Bitcoin and Ethereum as of Monday.

The international arm of Chinese asset manager Harvest Fund Management Co. and Bosera Asset Management (International) Co. and HashKey Capital are among the issuers expected to receive approval for both types of spot-to-crypto ETFs. The sources did not want their names to be disclosed so that the information is not yet public.

Both firms are awaiting approval from the SFC and Hong Kong Exchanges & Clearing Ltd. It plans to launch the ETFs, which have finalized listing details, by the end of the month. Time slots are not fixed and may be subject to last minute work.

The expected approvals follow news earlier this week that Harvest is gearing up to be allowed to launch a dot-Bitcoin ETF in its territory. On April 9, the SFC grants permission to Harvest and China Asset Management to provide fund management services related to virtual assets.

The launch of spot Bitcoin ETFs in the US on January 11 has sparked a revival in crypto markets this year. Nearly $59 billion in assets were raised by the 11 ETF exits, pushing the BTC price to a record high of 73,798 in mid-March.