Hong Kong Spot Bitcoin and Ethereum ETFs Begin Trading
- Bitcoin
- Ethereum
- ETFs
On April 30, 2024, Hong Kong launched six spot crypto ETFs for Bitcoin and Ethereum, marking a major step for mainstream crypto adoption in Asia. Unlike U.S. ETFs limited to cash creations, these allowed in-kind subscriptions, letting investors directly deposit BTC and ETH. The move positioned Hong Kong as a crypto-friendly hub amid global regulatory uncertainty. CT buzzed with excitement, seeing it as a potential catalyst for new capital inflows. This came as a contrast to China's mainland crypto ban, highlighting regional policy splits.