Hong Kong considers spot ETFs for individual investors

Hong Kong’s securities regulator, Securities and Futures Commission (Securities Regulatory Commission), designed to allow retail investors to purchase cryptocurrency spot ETFs.

Bloomberg quoted China Securities Regulatory Commission chief executive Liang Fengyi as saying:

“We welcome the proposed use technology Advanced technology helps improve efficiency and customer experience. As long as the new risks are addressed, we’re happy to try them. Regardless of the asset, our approach is consistent. “

Hong Kong regulators continue to take an incremental approach to cryptocurrencies, with their views on retail digital asset exposure changing throughout the year.

In January, the Securities and Futures Commission tightened regulations, restricting retail investors from purchasing cryptocurrency spot ETFs to professional investors with a portfolio of at least HK$8 million ($1 million).

Subsequently, the Securities and Futures Commission updated its rulebook in October to allow more investors to participate in cryptocurrency investments, ETFwhich stipulates that they must pass a knowledge test and meet net worth requirements — albeit lower than the threshold for professional investors.

The Securities and Futures Commission said in a report:

“This policy has been updated in line with the latest market developments and industry requirements, with the hope of further expanding retail access through intermediaries and allowing investors to deposit and withdraw virtual assets directly to intermediaries with appropriate safeguards.”

Issuers of listed cryptocurrency products are required to publish a risk disclosure statement.

Bloomberg quoted Leung Chun-ying as saying:

“As the cryptocurrency ecosystem evolves to a level we are comfortable with, we are excited to open up additional opportunities to the broader investing public.”

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