Livio Weng, CEO of HashKey Exchange, a licensed virtual asset trading platform in Hong Kong and COO of HashKey Group, stated that one of the reasons for the rapid rise in the current round of the virtual asset trading market is driven by the launch of Bitcoin spot ETFs in the United States. However, these products are currently primarily led by European and American investment institutions, lacking relevant spot ETF products in Asia. This may pose a risk for Asian investors, as they may face the risk of being led by American capital. Wong revealed that, in light of this situation, HashKey is working with partners to expedite the listing of Hong Kong spot ETFs and derivative trading products, believing that once Bitcoin spot ETF trading is opened in Hong Kong, it will attract a large amount of capital and become the preferred gateway for asset deployment in the virtual asset market in Asia.
Regarding the specific number of the first batch of Bitcoin spot ETFs listed in Hong Kong, Wong Hiu Ki pointed out that this needs to be determined and authorized by the Securities and Futures Commission. However, considering that the United States has authorized 11 Bitcoin spot ETFs for trading, it is expected that the number of ETFs listed in Hong Kong in the first batch may be fewer than this number, taking into account the significant difference in the scale of funds between the Hong Kong stock market and the United States. Wong emphasized that Ethereum spot ETFs are currently the most anticipated product for global crypto investors, and the preparation for Ethereum spot ETFs in Hong Kong is underway. If the relevant products can be launched in Hong Kong earlier than in the United States, Hong Kong may have the opportunity to transition from a follower to a leader in the global crypto market competition.