Hong Kong could green light spot bitcoin and ether ETFs next week: Report

HashKey is expected to be among the issuers who receive the green light, according to the report.

article-image

Hong Kong SFC CEO Julia Leung | Yu Chun Christopher Wong/Shutterstock modified by Blockworks

share

Hong Kong is reportedly looking to approve spot bitcoin and spot ether ETFs as soon as next week. 

Bloomberg first reported the news, citing sources familiar. 

HashKey is expected to be among the issuers who receive the green light, according to the report. 

HashKey announced on Thursday that it received an upgrade to its licensing conditions from Hong Kong’s Securities and Futures Commission (SFC). 

“This approval paves the way for HashKey Capital Limited to manage virtual asset investment products that may be offered to retail investors, subject to securing the requisite product authorisations from the SFC,” HashKey said in a statement. 

Read more: Hong Kong releases crypto ETF requirements ahead of US approval

The company announced a partnership with Bosera International earlier this month, which would allow the two to launch the ETFs. The partnership is “aimed at driving innovation and fostering growth.” 

“Along with the recent license upgrade, the collaboration is expected to pave the way for innovative fund products, including spot ETFs, and new investment opportunities for retail investors,” HashKey said.

HashKey declined to comment on the report.

Another potential issuer is Harvest Fund Management’s international arm. 

Read more: The future of Web3 lies in the Asia-Pacific

If the SFC gives the firms the green light, then the ETFs could launch by the end of April, Bloomberg said.

In the US, the Securities and Exchange Commission approved spot bitcoin ETFs back in January. It hasn’t, however, given spot ether ETFs approval to launch yet. A decision is expected in late May, but Bloomberg’s ETF analysts have given the SEC low odds of approval for the slew of applications from firms like BlackRock and Ark 21Shares.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

The L2 ecosystem has evolved into a complex landscape, with over $17B in market value and $50B in secured assets. While traditionally seen as high-beta plays on Ethereum, no L2 token achieved a beta higher than 1.0 relative to ETH in 2024. Furthermore, token dilution significantly impacted the sector, with a 1% increase in circulating supply corresponding to a 1.4% decrease in returns.

Key figures including Vitalik Buterin struggle to communicate the network’s core mission in an era of memecoin-minimized attention spans

article-image

World Liberty Financial has been busy buying crypto ahead of its launch

article-image

Trump’s token is setting the “tone” for crypto, Empire co-host Santiago Santos said

article-image

A pair of fundraises by Tapestry and Oh both came with expansive ideas about the future of AI and the role of humans in it

article-image

The Calamos Bitcoin Structured Alt Protection ETF — January is set to offer “systematic risk management” across its roughly one-year outcome period

article-image

Crypto industry elites (and a journalist or two) donned black tie at the Crypto Ball Friday night