The Securities and Futures Commission of Hong Kong has recently granted approval for Bitcoin Spot ETFs to several prominent asset managers, setting the stage for the city to emerge as a key center for these products.

This approval, following months of anticipation, represents a significant milestone for the Bitcoin industry in Asia.

HashKey Capital, a local asset management firm, has confirmed that its Bitcoin ETF will begin trading on April 30th. 

Additionally, OSL, a digital asset platform serving as a sub-custodian and infrastructure service provider for two major fund managers, has signaled its intention to launch spot Bitcoin products as early as late April. 

Meanwhile, some of China's top asset managers are in the final stages of preparation for the launch of spot Bitcoin ETFs, potentially by the end of April. 

This development is anticipated to generate significant interest from investors both within and outside of Hong Kong.

According to forecasts from Matrixport, a Singapore-based crypto services provider, and Markus Thielen, founder of 10x Research, Hong Kong's Spot Bitcoin ETFs could potentially attract and unlock up to $25 billion in new demand.

This surge of capital could significantly influence Bitcoin's market dynamics and further establish its legitimacy as an asset class.

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