香港著眼於加密貨幣中心地位並獲得有條件 ETF 批准

香港有條件批准資產管理公司 Harvest Global Investments 和 HashKey Capital/Bosera Asset Management 推出現貨比特幣和以太幣交易所交易基金 (ETF)，此舉提振了這些代幣和更廣泛的加密貨幣市場。香港的目標是將自己打造成與新加坡和杜拜並肩的數位資產中心。

Hong Kong Embraces Crypto Hub Aspirations with Conditional ETF Approvals

香港透過有條件 ETF 批准擁抱加密貨幣中心的願望

In a significant development for the digital asset industry, Hong Kong has granted conditional approvals for spot-Bitcoin and Ether exchange-traded funds (ETFs). This move has injected enthusiasm into the crypto market, signaling Hong Kong's determination to establish itself as a global digital asset hub.

香港已有條件批准現貨比特幣和以太幣交易所交易基金（ETF），這是數位資產產業的重大發展。此舉為加密貨幣市場注入了熱情，顯示香港決心將自己打造成全球數位資產中心。

Harvest Global Investments and a partnership between HashKey Capital and Bosera Asset Management have received initial approvals, while China Asset Management's Hong Kong unit has secured approval for virtual asset management services. These approvals pave the way for the development and launch of spot-crypto ETFs in Hong Kong.

Harvest Global Investments 以及 HashKey Capital 和 Bosera Asset Management 之間的合作夥伴關係已獲得初步批准，而華夏資產管理公司的香港子公司已獲得虛擬資產管理服務的批准。這些批准為在香港開發和推出現貨加密貨幣 ETF 鋪平了道路。

Hong Kong's Securities & Futures Commission (SFC) issues conditional authorization letters to ETF applications that meet its general requirements. Applicants then submit these letters to Hong Kong Exchanges and Clearing Ltd. for listing approval.

香港證券及期貨事務監察委員會（證監會）向符合其一般要求的 ETF 申請發出有條件授權書。然後，申請人將這些信件提交給香港交易及結算所有限公司以獲得上市批准。

OSL Digital Securities will provide custodial services for Bitcoin and Ether products from China Asset Management and Harvest. This collaboration between established financial institutions and crypto custodians underscores the maturing infrastructure for digital asset trading.

OSL Digital Securities將為華夏基金和嘉實的比特幣和以太幣產品提供託管服務。成熟的金融機構和加密貨幣託管機構之間的合作凸顯了數位資產交易基礎設施的成熟。

Impact on Crypto Market

對加密貨幣市場的影響

The news of conditional ETF approvals has sent ripples through the crypto market, with Bitcoin and Ether experiencing notable gains. Bitcoin surged 4.3% to trade at $66,232, while Ether jumped 6.5% to $3,253 on Monday afternoon in Hong Kong. This rally reflects the market's anticipation of increased accessibility and institutional adoption of digital assets.

有條件 ETF 核准的消息在加密貨幣市場引起了軒然大波，比特幣和以太幣的漲幅顯著。週一下午，香港比特幣飆升 4.3%，至 66,232 美元，以太幣上漲 6.5%，至 3,253 美元。此次上漲反映了市場對數位資產的可及性和機構採用率增加的預期。

Spot-Crypto ETFs: A Global Trend

現貨加密 ETF：全球趨勢

Spot-crypto ETFs have gained significant traction globally, with the United States leading the way. In January 2022, Bitcoin ETFs from BlackRock and Fidelity Investments debuted in the US, attracting over $12.5 billion in net inflow to date. This demand contributed to Bitcoin's record high of $73,798 in mid-March. The US market is still evaluating ETF applications for Ether, the second-largest digital asset.

現貨加密貨幣 ETF 在全球範圍內獲得了巨大的關注，其中美國處於領先地位。 2022 年 1 月，貝萊德和富達投資的比特幣 ETF 在美國首次亮相，迄今為止吸引了超過 125 億美元的淨流入。這種需求促使比特幣在 3 月中旬創下 73,798 美元的歷史新高。美國市場仍在評估第二大數位資產以太幣的 ETF 申請。

Hong Kong's Unique Approach

香港獨特的做法

In contrast to the cash redemption model employed by US ETF providers, HashKey Capital and Bosera's Hong Kong spot-ETFs will implement an in-kind subscription and redemption mechanism. This approach involves swapping the underlying crypto assets directly for ETF units, offering potential advantages in terms of simplicity and cost-effectiveness.

與美國ETF供應商採用的現金贖回模式不同，HashKey Capital和博時的香港現貨ETF將實施實體申購和贖回機制。這種方法涉及將基礎加密資產直接交換為 ETF 單位，在簡單性和成本效益方面具有潛在優勢。

Hong Kong's Broader Crypto Ambitions

香港更廣泛的加密貨幣野心

Beyond ETFs, Hong Kong is actively pursuing a comprehensive digital asset strategy. It has already approved futures-based crypto ETFs and is reviewing additional applications for licensed digital asset exchanges. Additionally, Hong Kong is working on a regulatory framework for stablecoins, expanding the scope of its digital asset offerings.

除了ETF之外，香港也積極推行全面的數位資產策略。它已經批准了基於期貨的加密 ETF，並正在審查獲得許可的數位資產交易所的其他申請。此外，香港正在製定穩定幣的監管框架，以擴大其數位資產產品的範圍。

Challenges and Opportunities

挑戰與機遇

Despite its aspirations, Hong Kong faces challenges in its quest to become a leading crypto hub. The level of demand for its ETFs remains uncertain, particularly in comparison to the substantial inflows seen in the US. Additionally, the regulatory landscape for digital assets is constantly evolving, requiring Hong Kong to strike a balance between innovation and investor protection.

儘管有抱負，但香港在成為領先的加密貨幣中心的過程中面臨著挑戰​​。對其 ETF 的需求水準仍然不確定，特別是與美國的大量資金流入相比。此外，數位資產的監管環境不斷變化，要求香港在創新和投資者保護之間取得平衡。

Nevertheless, the conditional ETF approvals represent a pivotal step towards solidifying Hong Kong's position as a global digital asset destination. By embracing crypto innovation while maintaining regulatory safeguards, Hong Kong aims to attract institutional capital and foster a robust and sustainable digital asset ecosystem.

儘管如此，有條件 ETF 的批准代表著鞏固香港作為全球數位資產目的地的地位的關鍵一步。透過擁抱加密貨幣創新，同時維持監管保障，香港旨在吸引機構資本並培養強大且永續的數位資產生態系統。