TechFlow news, according to sources, Huobi is planning to launch an ETF product tracking cryptocurrencies for retail investors and has already submitted a proposal to the Securities and Futures Commission (SFC) of Hong Kong. The plan aims to restructure its financial products so that retail investors with assets below HK$8 million (US$1 million) can access the product, which was previously available only to professional investors.
Previously, Hong Kong's legislative body passed an amendment prohibiting retailers from directly trading other digital currencies such as Bitcoin. This ETF launched by Huobi will be a tracker fund, with all trading and redemptions conducted directly in Hong Kong, providing better protection for investors.
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