[Industry leaders are invited to apply for XRP spot ETF in Hong Kong]
The XRP community is focusing on an important development in the Asian market: the establishment of a spot XRP exchange-traded fund (ETF) in Asia. Yassin Mobarak, founder of Dizer Capital, recently suggested that crypto industry leaders set up an XRP ETF in Hong Kong, after regulators in the region expressed openness.
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued notices on Friday stating that they have taken into account the activities of intermediaries related to cryptocurrency. What is special about this announcement is that the SFC and HKMA have shown an openness to cryptocurrency spot ETFs, and this policy revision reflects the latest developments in the market.
The SFC has previously authorized the creation of cryptocurrency futures ETFs and has said it is now willing to review applications for other types of cryptocurrency funds. Regulators specifically mentioned that they are open to applications for "virtual asset spot exchange-traded funds (VA spot ETFs)." Therefore, the XRP community is now looking forward to the establishment of an XRP spot ETF in Asia, especially Hong Kong.
