The head of Hong Kong's Securities and Futures Commission (SFC), Julia Leung, has revealed that the city is considering allowing spot exchange-traded funds (ETFs) that directly invest in cryptocurrencies. This move would grant retail investors access to spot crypto ETFs, but regulatory concerns need to be addressed effectively. Leung emphasized the SFC's openness to embracing innovative technologies that enhance efficiency and customer experience while managing potential risks. The rise in Bitcoin's value this year has increased expectations for major financial institutions to launch the first spot ETFs in the United States. Currently, Hong Kong allows futures-based crypto ETFs with modest adoption. Leung stressed the need for a robust regulatory framework for the crypto industry and increased transparency in the application process for virtual asset exchange licenses. Hong Kong officials are also exploring tokenization using blockchain technology.
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