Hong Kong Funds Are Preparing Spot Crypto ETF Listings

Hong Kong Funds Are Preparing Spot Crypto ETF Listings

About ten Hong Kong funds are getting ready to launch virtual currency spot ETFs. 

Budha Mercury rules trading, exchanges and finer accounting matters. A profile of the unfolding story was published on Caixin, on January 10th when Mars trined Jupiter, transiting over the same place where Mercury will have recently trined Jupiter 3 times in succession. 

I have spoken extensively on how Jupiter’s placement in Ashwini is related to new trading products as a result of new policy decisions related to trading markets. 

In the case of Hong Kong, seven or eight of the ten funds are now in the advance stage of listing their ETFs, and according to the original article in Caixin, this comes after the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a circular in December 2023, indicating their readiness to accept applications for the recognition of virtual asset spot ETFs. 

December is when Mercury trined Jupiter, for the first two of the total three times, first direct and then retrograde. 

These ETFs will position Hong Kong as the first market in Asia to allow the listing of virtual asset spot ETFs. 

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