April 15 (Reuters) – Hong Kong conditionally approved its first bitcoin and ether exchange-traded funds (ETFs) on Monday, money managers said, paving the way for the city to become the first in Asia to accept cryptocurrencies as a primary investment tool.
At least three overseas Chinese asset managers will soon launch virtual asset ETFs.
The Hong Kong units of Harvest Fund Management and Bosera Asset Management said in separate statements that they had received conditional approvals from Hong Kong's Securities and Futures Commission (SFC) to launch the ETFs.
Meanwhile, China's asset management unit in Hong Kong – ChinaAMC (HK) – said it had received regulatory approval on Monday to offer virtual asset management services and that the firm was developing spot ETFs of bitcoin and ether.
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