According to a report from the Hong Kong Economic Journal, OSL is actively communicating with numerous fund companies, with five to ten of them currently considering the creation of a spot crypto ETF.
Gary Tiu, a representative from OSL, mentioned that approximately five of these companies are making faster progress, and there’s a chance that Hong Kong might see its first spot crypto ETFs by the middle of this year.
Tiu also highlighted the need to keep fees reasonable in their collaboration with fund companies, considering there are only two licensed crypto exchanges in the city.
He emphasized the importance of introducing spot crypto ETFs, stating that they bring several benefits, such as fostering organized markets for digital assets, establishing a framework for local investor protection, and facilitating integration between regulated digital asset platforms and traditional financial institutions.
This statement from OSL follows HashKey revealing earlier this month that it is in discussions with asset managers about the potential launch of spot crypto ETFs.
Venture Smart Financial Holdings Ltd., a financial services company in Hong Kong, revealed its intention to potentially introduce a Bitcoin exchange-traded fund (ETF) in the first quarter of the year, as reported by Bloomberg.
