"Hong Kong Approves Spot Bitcoin and Ethereum ETFs"

Hong Kong's securities regulator has conditionally approved spot Bitcoin and Ethereum ETF applications from China Asset Management, Harvest Global Investments, and Bosera Asset Management, with OSL announced as the "sub-custodian partner" for China Asset Management and Harvest Global Investments' ETFs. This move comes as the U.S. SEC granted approval to multiple spot Bitcoin ETF applications, while being more reluctant to approve a spot Ethereum ETF. Hong Kong's embrace of the cryptocurrency sector, including the rollout of a Virtual Asset Trading Platform licensing regime, positions it as a crypto hub amidst the Chinese mainland's crackdown on cryptocurrency.