Hong Kong is getting ready to introduce its first Bitcoin ETFs on April 15th.

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Hong Kong’s financial rule maker wants to give the go-ahead to the first group of Spot Bitcoin ETFs on April 15.

However, it will take about two weeks for them to be available after they are approved, according to Tencent News. Financial experts said they think the first Bitcoin ETF in Hong Kong could grow to be worth $20 billion. This would be smaller than other products in the US.

The SFC recently updated the list of companies allowed to fund ahead of the announcement on April 15. This list included Chinese investment companies Harvest Global Investment and China Asset Management.

They can now offer crypto fund products, like Spot Bitcoin ETFs. Harvest applied for the ETF on Jan. “Please rewrite this passage in simpler language. ” The people who organize the ETF are talking about getting it listed on the Hong Kong Stock Exchange.

Hong Kong makes rules for buying and selling Bitcoin quickly.

In December, Hong Kong said it is willing to approve Spot Bitcoin ETFs, following a similar trend in the US. The SFC worked together with the Hong Kong Monetary Authority (HKMA). They said they are ready to take applications for these internet money products.

Additionally, they created definite rules for middlemen who are helping to give out these funds.

They said that cryptocurrency investments should follow the same strict rules as other types of investments in Hong Kong.

The SFC also said that companies must show they have followed rules well in the past. Also, they must have at least one staff member who is qualified and has experience in managing virtual assets or similar products.

The regulator also said that these products cannot use borrowing to increase their potential profits or losses. Moreover, companies must work with approved exchanges for all buying and selling of assets.

10 people who manage money are interested in the launch of Bitcoin in the market.

Crypto industry leaders in Hong Kong think the recent actions by the SFC are a good sign for the introduction of Spot Bitcoin ETFs. Earlier this year, the COO of HashKey Group, Livio Weng, said that around 10 companies were getting ready to start selling Spot Bitcoin ETFs in Hong Kong.

Hong Kong is becoming more open to digital money, but it still has strict rules for how it can be used.

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