Hong Kong allows retail investors to participate in spot ETFs

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Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), may allow retail investors to purchase spot cryptocurrency ETFs.

BloombergSecurities and Futures Commission chief executive Leong Fengyi was quoted as saying the regulator welcomes proposals to use innovative technologies to improve the efficiency and quality of customer service.

“As long as new risks are addressed, we are happy to try them. Our approach is consistent regardless of asset.”

SFC Chief Executive Officer Leung Fengyi

Although both the United States and Hong Kong allow futures-based exchange-traded funds (ETFs), their adoption has been relatively low compared to the broader fund industry.

Hong Kong currently has ETFs such as Samsung Bitcoin Futures active, CSOP Bitcoin Futures and CSOP Ethereum Futures listed, with a total asset value of approximately US$65 million.

In September, Hong Kong ranked first in a ranking of countries and regions most ready to implement cryptocurrencies. Its victory was ensured by zero taxation, a large number of cryptocurrency ATMs and crypto companies.

However, following the JPEX cryptocurrency exchange scandal, the government will tighten regulations on cryptocurrencies. The police and the Securities and Futures Commission recently established a task force to crack down on illegal cryptocurrency trading activities.


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