Hong Kong's preliminary approval of spot ether exchange-traded funds could give the region a competitive edge over the U.S. in the retail spot ETF market, according to an OSL executive. The approval allows Hong Kong managers to launch ETH products in the region, while the U.S. has not approved any spot ETH products yet.
Hong Kong ’s preliminary approval of spot ether exchange-traded funds could give the region a competitive edge over the U.S. in the retail spot ETF market, an OSL executive said.
Tiu’s comments come after the Hong Kong Securities and Futures Commission today gave the in-principle approval to a slew of spot bitcoin and ether ETFs, including those in which OSL acts as a sub-custodian and infrastructure service provider. “Typically, with the product authorization, if they already have in-principle approval, it means we are getting very, very close,” he added.Some in the crypto industry have said that the upcoming Hong Kong spot crypto ETFs may attract substantial investor interest from the Chinese mainland through the Southbound Stock Connect program.
“There will for sure,” Tiu said. “We are talking about multiple products from multiple issuers launching at the same time, but tracking the same underlying asset. The ability to offer price competitiveness to the market is going to be key.”The key distinguishing features of the forthcoming spot crypto ETFs are the in-kind subscription and redemption options they offer.
Hong Kong Spot Ether Exchange-Traded Funds Competitive Edge U.S. Retail Spot ETF Market OSL Approval Launch ETH Products
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