Hong Kong financial regulator issues guidelines for crypto futures ETFs
Cointelegraph
Published Oct 31, 2022 03:45PM ET
Updated Nov 01, 2022 05:40PM ET
The Securities and Futures Commission of Hong Kong has set up requirements for entities considering a public offering of an exchange-traded fund (ETF) tied to cryptocurrency futures.
In an Oct. 31 circular, the SFC said that in addition to previously imposed requirements on unit trusts and mutual funds for authorization of a crypto futures ETF, management companies in Hong Kong would need to “have a good track record of regulatory compliance” as well as three years of experience managing ETFs, with consideration for similar investment vehicles. The financial regulator hinted it would follow in the Chicago Mercantile Exchange’s footsteps by only initially allowing listings of ETFs linked to Bitcoin (BTC) and Ether (ETH) futures.
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Written By: Cointelegraph
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