Hong Kong crypto players urge authorities to speed up approval and launch of spot Bitcoin ETF

Participants in Hong Kong's cryptocurrency industry are urging authorities to expedite the approval and launch of a bitcoin exchange-traded fund (ETF) in order to avoid putting Asian investors at a disadvantage. Local reports indicate that the Hong Kong Monetary Authority began accepting applications for bitcoin ETFs in December 2023, but no related products have been launched yet. The report also reveals that authorities are considering approving an ether ETF, which industry insiders believe would elevate Hong Kong's position in the global cryptocurrency market if launched before the United States.