BTC, ETH Rise as Hong Kong Bitcoin ETF Applicants Say They've Been Approved
Summary
Bitcoin has risen 2.8% over 24 hours, trading above $66,500, and ether has advanced to $3,240. Several issuers in Hong Kong, including China Asset Management and Bosera Capital, announced on WeChat that they have been approved to list spot bitcoin and ether exchange-traded funds (ETFs). However, the Securities and Futures Commission (SFC) has not yet released an official list of approved issuers. Some of these announcements have been deleted from WeChat. Singapore-based QCP Capital believes that the approval of these ETFs will increase institutional demand during Asia trading hours, providing an Asia-based alternative to US hours.
