Hong Kong regulators have said they are willing to consider applications for spot crypto exchange traded funds (ETFs).

Hong Kong’s Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) said in a joint statement that the environment surrounding crypto assets has changed since 2018, when the SFC developed a “professional investors only” regulatory approach. said.

Hong Kong has loosened its approach to crypto assets this year, and regulators’ views on retail exposure to crypto assets are changing. In October, the SFC updated its rulebook to allow a wider range of investors to invest in physical crypto assets and ETFs. And last month, SFC CEO Julia Leung said regulators were moving to allow retail investors to buy spot crypto ETFs, with the condition that they address all risks. We welcome proposals that use innovative technology to enhance the customer experience.”

“The crypto asset landscape is rapidly evolving and beginning to expand into mainstream finance,” the two companies said in a joint statement. The SFC said it is “ready to accept applications for approval of other funds with exposure to crypto assets, including crypto spot ETFs.”

The statement follows growing speculation that the U.S. Securities and Exchange Commission (SEC) is likely to approve a Bitcoin ETF early next year.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Spot Crypto ETF Applications Will Be Considered, Hong Kong Regulators Say