HKEX Approves Crypto Spot ETFs for Credit Financing, Urges Caution

IconCrypto News Terminal24 Apr, 2024

cryptonews.jpg

HKEX Approves Crypto Spot ETFs for Credit Financing, Urges Caution

**Hong Kong Stock Exchange Greenlights Crypto Spot ETFs for Credit Financing** In a recent statement, the Hong Kong Stock Exchange (HKEX) announced that crypto spot exchange-traded funds (ETFs) can now be used for credit financing (share-secured lending). This move aligns with the SFC's conditional approval of Bitcoin and Ethereum spot ETFs on April 15th, some of which will commence trading on April 30th. **HKEX Warns of Crypto Spot ETF Volatility** While approving the use of crypto spot ETFs for credit financing, HKEX cautioned investors about their high volatility. The exchange advised exercising caution and adhering to relevant SFC guidelines when utilizing these ETFs for this purpose. **Previously on April 23, 2024:** The Hong Kong Stock Exchange issued a statement highlighting the approval of crypto spot ETFs for credit financing, while emphasizing the need for caution due to their inherent volatility. The SFC had granted conditional approval to several Bitcoin and Ethereum spot ETFs, with trading set to commence on April 30th.

Related News