Business Markets News Report
April 15, 2024

HashKey Capital, Bosera Capital And China Asset Management Receive Approval From Hong SFC For Crypto ETF Launches

In Brief

Several asset management firms received approvals from the Hong Kong SFC to offer virtual asset management services to investors.

HashKey Capital, Bosera Capital And China Asset Management Receive Approval From Hong SFC For Crypto ETF Launches

Investment management companies HashKey Capital, Bosera Capital, and China Asset Management received approvals from the Hong Kong Securities and Futures Commission (SFC) to offer virtual asset management services to investors.

Investment products from HashKey Capital and Bosera Capital have received conditional approval from the regulator. Bosera HashKey Capital spot Bitcoin exchange-traded fund (ETF) and Bosera HashKey Capital spot Ethereum ETFs will mirror the prices of Bitcoin and Ethereum, respectively, and will utilize a “physical” subscription process, enabling investors to subscribe for ETF shares directly utilizing Bitcoin and Ethereum. These newly approved investment offerings are expected to be listed on the Hong Kong Stock Exchange.

Bosera International has been appointed as the fund manager for the two ETFs mentioned above, while HashKey Capital will act as the deputy fund manager.

Meanwhile, China Asset Management (Hong Kong) has received full approval from the SFC. The company partnered with digital asset platform developer OSL Digital Securities and a custodian, BOC International Prudential, to provide retail asset management services connected to spot cryptocurrency ETFs. The company intends to introduce ETF products enabling spot Bitcoin and Ethereum investments.

OSL Digital Securities will be the exclusive trading and custody partner for China Asset Management’s newly launched Bitcoin and Ethereum spot ETFs in Hong Kong.

Furthermore, another asset management firm, Harvest Global Investments, announced its two spot cryptocurrency ETFs have also obtained in-principle approval from the regulating agency. The ETFs will be launched in partnership with OSL to effectively resolve concerns such as excessively high margin requirements.

Hong Kong Embraces Crypto Amid Mainland Crackdown: Two Platforms Licensed

In contrast to the broader crackdown on cryptocurrency trading and mining seen in neighboring mainland China, Hong Kong warmly welcomed cryptocurrency-focused firms last year. In June 2023, the city officially initiated its cryptocurrency licensing regime for trading platforms, enabling licensed exchanges to offer retail trading services. So far, Hong Kong has issued licenses to two platforms — HashKey Exchange and OSL.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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