Can three Chinese asset managers unlock rivers of gold with new crypto ETFs in Hong Kong? Plus Thai NFT music fest, and more: Asia Express.
Hong Kong's new Bitcoin and Ether ETFs, Fansland invites PSY to Web3 music festival in Bangkok, KuCoin airdrops $20M, and more!Hong Kong’s Securities & Futures Commission has approved spot Bitcoin and Ether ETFs.
Bosera will launch its spot crypto ETFs in collaboration with Hong Kong-based HashKey Capital. OSL Digital Securities, a licensed digital asset platform in Hong Kong, will act as the sub-custodian for both ChinaAMC and Harvest. Unlike their United States counterparts, Hong Kong crypto ETFs can settle both in fiat money and in-kind, allowing users to redeem their ETF assets directly for Bitcoin and Ether.
On April 18, local fintech firm Eddid Financial became the third approved securities firm for crypto ETF trading services. Specifically, Eddid Financial will provide virtual asset trading and product distribution services to general retail investors and facilitate the creation and redemption of crypto ETF units.
“Within 5 days, there will be 10 rounds of airdrops worth $20 million credited to 3 million users,” KuCoin staffMusic idol protocol Fansland will host a Web3 music festival in Thailand after securing a $10 million funding round. Tickets are on sale at Trips.com for 6,000 Thai baht apiece. It features an NFT ticketing system, tokenized music products, and AI-generated music idols who will perform at the event.as NFTs on Fansland and are thereafter tradable on secondary markets or be used as an access point to interact with Fansland DeFi.
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