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International Business Times
International Business Times
Business
Marvie Basilan

US Spot Bitcoin ETF Approval Sparks Ripple Effect in Asia, Pressures Some Nations To Rethink Crypto

Bitcoin SEC Crypto ETF Asia United States Gary Gensler Larry Fink Michael Saylor BlackRock
Spot Bitcoin ETFs are on a roll in the U.S., but will Asian countries soon get a chunk of the billion-dollar market? (Credit: Marco Verch/flickr)

KEY POINTS

  • Hong Kong has reportedly accepted the first application for a spot Bitcoin ETF
  • South Korea's financial regulator chief will meet with the SEC's Gensler in May for spot BTC ETF talks
  • Japan has moved closer to allowing investment funds and venture capital firms to own digital assets

When the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) in January, everyone expected the cryptocurrency world to celebrate and trigger a market-wide rally of cryptocurrencies and other tokens.

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