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HONG KONG – Enterprise Sensible Monetary Holdings Ltd. has taken a big step within the cryptocurrency market by submitting for Hong Kong’s first spot exchange-traded fund (ETF). The corporate goals to draw $500 million in property below administration (AUM) by the tip of 2024, aligning with the brand new pointers issued by the Securities and Futures Fee (SFC) in December.
The transfer comes because the SFC has opened the door for cryptocurrency ETFs, with three futures-based crypto ETFs already working in Hong Kong, collectively managing $50 million in AUM. The announcement signifies a rising curiosity in cryptocurrency funding merchandise within the area, with Samsung (KS:) Asset Administration additionally exploring the potential for providing a spot ETF.
As of now, there have been no additional updates from the regulatory physique for the reason that launch of the brand new pointers.
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