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The Hong Kong laws are also a little bit different on this front. To be honest, if you’re, if you’re doing a spot crypto ETF in Hong Kong, if the, if the underlying is a, is a security that, that in itself is not a deal killer, now, what what will be important is actually how the fund actually gets the exposure to the underlying asset. So in theory, if, if Ether was classified as a security in Hong Kong, actually from a legal standpoint, the trading platforms can support them without uh without breaching any regulations in Hong Kong. This is not the case in the US. So I think putting aside what the US outcome is, I think the market has spoken there is definitely a lot of interest in an E A product and the managers are well aware of that.
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