The Hong Kong Securities and Futures Commission has reportedly approved a spot ETF for Bitcoin and Ethereum. Although there is no official announcement yet, the markets have started to green.
Cryptocurrency markets have been very active recently. Bitcoin (BTC), which reached a new ATH (all-time high) level exceeding $70,000 just a few weeks ago, suffered a serious decline last weekend due to Iran’s airstrike on Israel.
Today, however, there was a development that helped the markets rebound. According to reports from East Asia, the Hong Kong Securities and Futures Commission has approved spot ETFs for Bitcoin (BTC) and Ethereum (ETH).
No official statement has been made: But…
The announcement came from firms such as China Asset Management and Bosera Capital, which filed spot ETF applications with the Hong Kong Securities and Futures Commission. The companies posted announcements on their official WeChat accounts, saying that the commission had approved spot ETFs for BTC and ETH. However, the Hong Kong Securities and Futures Commission has not commented on the matter.
When we look at Coinmarketcap data, we see that all of the top 10 cryptocurrencies by volume have increased in value compared to 24 hours ago. In this context; Bitcoin (BTC) is currently trading at $ 66,500. Ethereum (ETH), on the other hand, rose 5.69 percent to $ 3,266. Binance Coin (BNB) is trading at $ 578, while Toncoin (TON) is trading at $ 7.06.
We will have to wait for an official statement from the Hong Kong Securities and Futures Commission to find out what happened. It is important to remember that one piece of news does not necessarily mean that the market will rise. But one piece of news can cause markets to fall sharply. So, do your risk assessment very well.
