TechFlow news: The Hong Kong Securities and Futures Commission (SFC) today issued two circulars regarding requirements for spot cryptocurrency ETFs.
The SFC stated that in addition to existing cryptocurrency futures ETFs, it is now prepared to accept authorization applications for other funds involving virtual assets, including virtual asset spot exchange-traded funds (VA spot ETFs).
In another circular issued today, the SFC specified that funds must "invest directly in the same spot virtual asset tokens that are available to the Hong Kong public on licensed virtual asset trading platforms (VATPs) regulated by the SFC."
It was reported that Julia Leung, Chief Executive Officer of the SFC, said in November that the regulator is assessing spot cryptocurrency ETFs as it welcomes "proposals that use innovative technologies to enhance efficiency and customer experience."
