Crypto ETF Launches Will Test Hong Kong’s Digital-Asset Hub Ambitions

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Hong Kong for more than a year has been vying with the likes of Singapore and Dubai to develop a tightly regulated home for the virtual-asset industry. Photo: Bloomberg

(Bloomberg) — Hong Kong is set to follow in the footsteps of the U.S. by listing a batch of cryptocurrency exchange-traded funds (ETFs), providing a window on whether the city is making progress on fashioning a hub for digital assets.

Some of China’s top asset managers are in the final leg of preparations for the spot-Bitcoin and ether ETFs to begin trading by the end of April. The launches will likely invite comparison with a slew of three-month-old U.S. Bitcoin funds that took Wall Street by storm, garnering $56 billion in assets to date.