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International Business Times
International Business Times
Business
Marvie Basilan

Asia's First: Hong Kong May Approve First Spot Bitcoin ETFs Next Week

Bitcoin Hong Kong Asia ETF Crypto Brock Pierce China Asset Management SEC VanEck
Hong Kong could lead the way in Asia's wider adoption of cryptocurrencies if it does approve spot Bitcoin ETFs soon. (Credit: Marco Verch/flickr)

KEY POINTS

  • Regulators have reportedly been speeding up the process of approving applications
  • Among the participants is China Asset Management's Hong Kong subsidiary, as per the report
  • Crypto users on X believe the development, if occurs, could mark a major transition for Asian Bitcoin adoption

Hong Kong is expected to approve the first spot Bitcoin exchange-traded funds (ETFs) next week, a new report revealed. If the said timeline is achieved, Hong Kong will be Asia's first city to launch ETFs.

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