Despite the SEC Chair Gary Gensler suggesting that spot Ethereum (ETH) ETFs are likely to receive approval over the summer, the price of ETH experienced a nearly 5% decline on Thursday, reflecting mixed sentiment among derivatives traders.
Bitcoin (BTC) is trading around $63,000, showing muted anticipation for the upcoming debut of Hong Kong’s spot cryptocurrency exchange-traded funds (ETFs). Despite the lack of excitement, an executive from one of the issuers expects the first-day issuance to surpass the U.S. debut in January.
Victory Securities, a Hong Kong-based investment firm, has revealed its proposed fees for upcoming Bitcoin and Ethereum ETFs, even before the official list of approved issuers is published by the Hong Kong Securities and Futures Commission.
China has approved the launch of spot Bitcoin and Ethereum ETFs in Hong Kong, which could drive up demand and prices for major cryptocurrencies.
