According to OSL’s executive director and head of regulatory affairs, Gary Tiu, the issuance of Hong Kong’s first spot crypto exchange-traded funds could potentially happen by the middle of this year, as OSL is in close communication with many fund companies.
Around five to ten companies are currently studying the possibility, and Tiu believes that five of them are progressing faster than the others and could roll out the ETFs within this timeframe.
Tiu also mentioned the pressure to keep fees reasonable in the collaboration with fund companies, as Hong Kong only has two licensed crypto exchanges.
Tiu confirmed these details in a media report and stated that the introduction of spot crypto ETFs is a significant development in the city’s crypto space.
He sees these ETFs as offering multiple benefits, including promoting regulated digital asset platforms and traditional financial institutions’ integration and providing investor protection.
