Hong Kong securities regulator approves first bitcoin, ethereum spot ETFs

Hong Kong securities regulator approves first bitcoin, ethereum spot ETFs

FILE PHOTO: Representation of Bitcoin cryptocurrency is seen in this illustration taken January 11, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Hong Kong’s securities regulator approved the first spot bitcoin and ethereum exchange traded funds (ETFs) on Monday, a milestone on the way to becoming Asia’s first city to accept the popular cryptocurrencies as a mainstream investment tool.