Members of the XRP community are now awaiting the creation of a spot XRP exchange-traded fund (ETF) on Asian soil amid a key event that has unfolded in the region. In particular, Dizer Capital founder Yassin MOBARAK invited crypto industry leaders to create an XRP ETF in Hong Kong after recent regulatory approval.
In a circular last Friday, Hong Kong’s top regulatory bodies said they had reviewed their current policies regarding intermediaries seeking to engage in cryptocurrency-related activities. In particular, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have expressed their willingness to accept cryptocurrency spot ETFs.
According to the circular, the revision reflects recent market developments: the SFC has granted authorization for the creation of cryptocurrency futures ETFs. As a result, the SFC and HKMA said they are now open to accepting applications for approval of additional cryptocurrency-related funds. Regulators specifically mentioned “virtual asset spot exchange-traded funds (VA spot ETFs)” among potential ETFs it would welcome.
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