The Hong Kong Securities and Futures Commission (SFC) has issued requirements for the agency to offer. public exchange-traded fund (ETF) linked to cryptocurrency futures
On October 31, SFC saythat in addition to the previously set requirements regarding unit trusts and mutual funds for crypto futures ETF approval, Hong Kong-based companies must “Have a good track record of compliance,” including three years of experience managing ETFs, with the financial regulator implying it will follow in the footsteps of the Chicago Mercantile Exchange by allowing listing ETF futures at Linked to Bitcoin and Ether
The financial regulator added that companies Aggressive investment strategies should be taken to account for events, including market disruptions, with the SFC also saying that ETF issuers will need to “extensive investor education” before the launch of crypto investment tools in Hong Kong.
Christopher Hui, Hong Kong Financial Services and Finance Secretary, said: “We recognize the potential of DLT and Web 3.0 as the future of finance and commerce. And under proper regulation it will improve efficiency and transparency. The government is ready to accept this future. And we welcome the integration of the Fintech and VA communities and talent in Hong Kong. And we will promote the development of sustainable financial services across the VA value chain.”
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