On April 15, 2024, Jia Shi International, Huaxia Fund, and Boshi Fund announced that the Bitcoin Ethereum spot "ETF" has been approved by the Hong Kong SFC. In the U.S. market, the market performance of Bitcoin spot "ETF" has proven globally that Bitcoin's integration into traditional finance is only a matter of time. As one of the two major centers of the Asian crypto market, Hong Kong, with the approval of the first batch of virtual asset spot "ETF," will once again stir up the entire market.
What is a Cryptocurrency ETF#
Taking Bitcoin ETF as an example here.
In traditional investments, an ETF is a form of investment that tracks the price of an asset or a group of assets. ETF represents a simple way to invest in multiple assets at the same time without actually owning the above assets.
Bitcoin Exchange Traded Fund (ETF) allows buyers to invest in Bitcoin without purchasing the actual asset. What you own is a fund that tracks Bitcoin rather than owning Bitcoin itself, but the returns are the same. This investment method simplifies the purchasing process, as users can participate without registering on exchanges or using crypto wallets.