QCP Capital: Bitcoin and Ethereum spot ETFs approved in Hong Kong will release some institutional demand during Asian trading hours

China Asset Management, Bosera Asset Management and other applicants announced in WeChat accounts earlier today that they have received in-principle approval to list bitcoin and ethereum spot ETFs in Hong Kong. However, these announcements appear to have preceded the official statement of the Hong Kong Securities and Futures Commission (SFC), which has not yet released the list of approved issuers, or affected by this, some of the articles have been deleted. The Hong Kong Securities and Futures Commission did not respond to emails or calls seeking comment. QCP Capital, a digital asset trading agency in Singapore, said it believes that these ETFs will release some institutional demand during Asian trading hours after they are approved in Hong Kong. QCP wrote: "Participants who want to invest have been limited to the US session, but now this provides institutional investors with an option based on the Asian time period. We believe this will be bullish in the short term, but there are more important factors and drivers, such as macro events." (CoinDesk)