Livio Weng, the Chief Operating Officer of HashKey, a Hong Kong licensed crypto exchange, has revealed that the city is experiencing a surge in interest for cryptocurrency investment products. This is a promising sign for the crypto industry and highlights the growing acceptance of digital assets in Hong Kong.

The Securities and Futures Commission (SFC) of Hong Kong and the Hong Kong Monetary Authority have played a crucial role in paving the way for these innovative financial products. In December, they released guidelines outlining the requirements for spot crypto ETFs, demonstrating the city’s commitment to creating a regulated and secure environment for crypto trading. As a result, approximately ten asset management firms are currently exploring the possibility of launching spot crypto ETFs in Hong Kong.

The asset managers showing interest in these potential ETFs come from various regions, including Asia and Europe, with some having Chinese capital backing. This global participation highlights Hong Kong’s status as a leading global financial hub, particularly in the growing field of cryptocurrency. It also indicates a wider acceptance and integration of digital assets into mainstream finance.

Having received a license from the SFC for retail crypto trading services in August, HashKey is well-positioned to play a significant role in these developments. The firm expects to participate in the spot crypto ETFs by facilitating crypto transactions related to the ETFs and offering crypto custody services. This further demonstrates HashKey’s commitment to advancing the crypto ecosystem in Hong Kong.

In addition, Fundstrat’s Tom Lee predicts that Bitcoin’s price will reach $150,000 in the next 12 months. This forecast adds to the excitement surrounding the emerging crypto ETF market in Hong Kong.