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HashKey COO Reveals 10 HK Firms Eyeing Spot Crypto ETFs

10 HK firms, guided by HashKey COO Weng, gear up to launch crypto ETFs, marking Hong Kong's leap into regulated crypto investment products.
HashKey COO Reveals 10 HK Firms Eyeing Spot Crypto ETFs

Livio Weng, the Chief Operating Officer of HashKey, a Hong Kong licensed crypto exchange, has recently shed light on the city’s burgeoning interest in cryptocurrency investment products. In a move signaling growth in the crypto sector, Weng disclosed that approximately ten asset management firms are actively exploring the possibility of launching spot crypto ETFs in Hong Kong. This development underscores the region’s growing embrace of digital assets.

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Regulatory Framework Paving the Way

The Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Monetary Authority have laid the groundwork for these innovative financial products. In December, they released circulars outlining the requirements for spot crypto ETFs. This move demonstrates the city’s commitment to fostering a regulated and secure environment for crypto trading. Weng noted that about seven or eight asset managers have already engaged with the SFC, taking concrete steps toward designing these investment vehicles.

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Global Participation in Hong Kong’s Crypto Market

The asset managers showing interest in these potential ETFs hail from diverse regions, including Asia and Europe, with some having Chinese capital backing. This international participation highlights Hong Kong’s status as a global financial hub, particularly in the burgeoning field of cryptocurrency. The involvement of various international players points to a broader acceptance and integration of digital assets in mainstream finance.

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HashKey’s Role in the Emerging Crypto ETF Market

HashKey, having received a license from the SFC for retail crypto trading services in August, is poised to play a significant role in these developments. The firm anticipates participating in the potential spot crypto ETFs by facilitating crypto transactions related to the ETFs and offering crypto custody services. This involvement underscores HashKey’s commitment to advancing the crypto ecosystem in Hong Kong.

Read Also: Fundstrat’s Tom Lee Sees Bitcoin (BTC) Price Hitting $150K in 12 Months

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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