Hong Kong's first crypto ETFs go public in milestone for hub ambitions

Products to challenge U.S. counterparts as focus shifts to Chinese investor access

20240430 bitcoin image in HK

Hong Kong is positioning itself as a hub for cryptocurrency trading, although regulators have stressed they "are not meant for every investor." © Reuters

PEGGY YE and KENSAKU IHARA, Nikkei staff writers

HONG KONG -- Six crypto-focused exchange-traded funds went public for the first time in Hong Kong on Tuesday, spelling potential competition for popular bitcoin products in the U.S. and symbolizing the city's ambition to become a hub for digital assets.

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