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Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), may allow retail investors to buy spot crypto ETFs.
<a href="https://www.bloomberg.com/news/articles/2023-11-05/hong-kong-mulls-allowing-spot-crypto-btc-etfs-sfc-s-leung-says" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>, citing SFC CEO Julia Leung, writes that the regulator welcomes proposals using innovative technologies that improve efficiency and quality of customer service.
<blockquote class="wp-block-quote">
 “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.” <cite>Julia Leung, SFC CEO </cite>
</blockquote>
Although both the US and Hong Kong allow futures-based exchange-traded funds (<a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">ETFs</a>), their adoption has been relatively modest compared to the broader fund industry.
You might also like: <a href="https://crypto.news/zodia-custody-expands-to-hong-kong/" rel="noopener noreferrer nofollow"> Hong Kong Monetary Authority concludes first CBDC trial </a>
Hong Kong currently has ETF listings such as&nbsp;Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, with a total combined asset value of approximately $65 million.
In September, Hong Kong <a href="https://crypto.news/how-hong-kong-became-the-new-hub-for-cryptocurrencies/" rel="noopener noreferrer nofollow">took first place</a> in the ranking of countries and territories most prepared to implement cryptocurrencies. Its victory was ensured by a zero tax rate, a large number of cryptocurrency ATMs, and crypto companies.
However, after the scandal with the JPEX cryptocurrency exchange, the government <a href="https://crypto.news/hong-kong-plans-to-flag-suspicious-crypto-platforms-amid-jpex-scandal/" rel="noopener noreferrer nofollow">will tighten</a> oversight of cryptocurrencies. Police and the SFC recently formed&nbsp;a task force to combat illegal cryptocurrency exchange activity.
You might also like: <a href="https://crypto.news/hong-kongs-confidence-in-crypto-sours-amid-jpex-scandal/" rel="noopener noreferrer nofollow"> Hong Kong’s confidence in crypto sours amid JPEX scandal </a>

Hong Kong to allow retail investors to participate in spot ETFs

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