Bitcoin and Ethereum ETFs are officially approved in Hong Kong

The Hong Kong Securities and Futures Commission has formally approved a number of applications for spot Bitcoin and Ethereum exchange-traded funds (ETFs).
Issuers such as HashKey, Bosera Capital and ChinaAMC have all been recognized by regulators.
According to CoinGecko, Ethereum's price has risen by more than 5% in the last 24 hours. Bitcoin rose nearly 3%.
Last week, Bloomberg reported that the products are expected to be approved in Hong Kong on April 15.

What about the United States?
In January, several spot Bitcoin ETFs were approved in the United States. BlackRock's product eventually became a record-breaking success story, attracting $10 billion worth of assets in less than two months.
According to USA Today, BlackRock's IBIT has now almost quickly surpassed established funds like the iShares MSCI Japan ETF (EWJ).
Although BlackRock and other major companies also applied to launch an Ethereum ETF spot last year, the SEC has so far been reluctant to approve such a product.
There is a political backlash aimed at preventing future approval of ETFs linked to other cryptocurrencies. In addition, the SEC is reportedly working to classify Ethereum as a security.
Last month, Robert Mitchnick, head of digital assets at BlackRock, said that there is little demand for Ethereum, while Bitcoin remains their main focus.
However, BlackRock boss Larry Fink said that the identification of the largest altcoin as a security does not necessarily prevent the launch of spot ETFs. #比特币新闻 Ethereum ETF

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