Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds (ETF) next week, making it possible that the products could be ready to start trading in April, Reuters reported.
Australia and Hong Kong are the two jurisdictions that could become the first in Asia to offer spot bitcoin ETFs, with Singapore and the UAE not reflecting immediacy just yet.
Hong Kong's regulators have sped up the approval process, Reuters said, citing one of the people.
The Reuters report said four entities have submitted applications to launch the spot bitcoin ETFs. It named three of them as the Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management.
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