Share this article
Hong Kong’s SFC Has Received Multiple Requests for Crypto ETFs
The SFC is reviewing its regulatory regime for virtual assets.
Updated May 11, 2023, 4:34 p.m. Published Nov 3, 2021, 5:25 a.m.
In recent months, the Hong Kong Securities and Futures Commission (SFC) has received “a number” of requests from local companies that want to offer crypto-related exchange-traded funds (ETFs) to their private bank and professional clients, SFC Deputy Chief Executive Officer and Executive Director Julia Leung said.
- Speaking at Hong Kong Fintech Week, the SFC director gave a “glimpse” of the regulatory issues involved with ETFs including whether retail users be allowed access to crypto ETFs through online brokers, and should they face additional restrictions compared to non-crypto ETFs.
- However, she did not give any indication of the regulator’s decisions on ETFs.
- The SFC is currently reviewing its regulatory regime for crypto to see if it is still “fit for purpose,” Leung said.
- Under the regime, virtual asset service providers have to be licensed to operate in Hong Kong and can only offer services to professional investors, defined as individuals with a portfolio of over HK$8 million (US$1 million) or companies with more than $5 million in total assets. SFC-regulated fund managers can invest up to 10% of their gross asset value in crypto, and can apply for a special license if they wish to invest more.
- Last month, the U.S. Securities and Exchange Commission approved the first bitcoin futures ETF.
- In August, Leung said that Hong Kong should crack down on unlicensed crypto trading.
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down
The White House has shut down proposals, and lawmakers are circulating the Democrats' asks in what had been a close negotiation, revealing 11th-hour pressure.
Was Sie wissen sollten:
- Democrats shared a response to Republicans outlining their continuing priorities for a crypto market structure bill, which they said was intended to "reach an agreement and proceed towards a mark-up."
- The document laid out concerns with financial stability, market integrity and public officials' ability to trade and profit off of crypto, echoing concerns laid out in a framework Democrats shared in September.
- The Senate is running out of time in the Congressional calendar to hold a markup hearing — a key step toward progressing the bill — before 2025 ends.
Top Stories
