Crypto NewsBitcoinAre Bitcoin Spot ETFs Spreading to Asia? Experts Reveal Other Giant Economies...

Are Bitcoin Spot ETFs Spreading to Asia? Experts Reveal Other Giant Economies Where an Approval Could Come From

Following the approval of Bitcoin Spot ETFs in Hong Kong, is there a possibility of further expansion of these products?

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The launch of cryptocurrency ETFs in Hong Kong appears imminent, a move that could spur the adoption of such funds across Asia. This development comes as HashKey Capital and Bosera International announced on Monday that they have received approval from the Hong Kong Securities and Futures Commission to offer crypto-related asset management services.

Michael Silberberg, director of investor relations at Alt Tab Capital, believes the Hong Kong initiative will likely attract more institutional investors, leading to increased liquidity and better price discovery. “As other countries observe Hong Kong's approach, it will likely encourage similar regulatory frameworks around the world, further legitimizing Btcoin as an investable asset class and driving further growth in BTC and the market overall,” Silberberg said.

Karim Saber, a research associate at cryptocurrency ETP holding firm 21Shares, suggested that Asia looks poised to lead the way in approving new spot Bitcoin ETFs, given above-average crypto adoption rates in countries like South Korea, Japan and Singapore. “The victory of a Bitcoin-friendly South Korean opposition party in April's elections raises the possibility that the country will approve BTC spot ETFs in the near future,” he said.

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In a related development, Singapore app Grab allowed users to start making payments in BTC, ETH and stablecoins last month. Saber considered this move as evidence of the “increasing integration of cryptocurrencies into mainstream commerce.”

“We expect Singapore and Japan to increasingly gain regulatory approvals after South Korea,” Saber said. “The approval in Hong Kong will catalyze discussions later this year as Asian countries race to emerge as the next financial center for innovation.” can.”

*This is not investment advice.

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