Hong Kong regulators approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), following similar moves in the US this year. The Securities and Futures Commission (SFC) greenlit three ETF providers, including ChinaAMC, which also received approval to manage virtual assets and is preparing to develop these ETFs with OSL Digital Securities as custodian. Harvest Global and Bosera International also obtained SFC approval. Though approved, these ETFs have not yet launched. The approval marks a significant step for Hong Kong as it aims to become a regulated cryptocurrency hub, contrasting with mainland China’s 2021 crypto crackdown. Hong Kong’s initiative follows the U.S., which has recently seen substantial inflows into bitcoin ETFs, allowing investors to engage with crypto without direct ownership.