Hong Kong Gives Green Light to Bitcoin and Ethereum ETFs, and other News
At least three overseas Chinese asset managers, including Hong Kong units of Harvest Fund Management, Bosera Asset Management and China Asset Management, are set to launch their own Bitcoin and Ethereum spot ETFs soon.
Hong Kong advances in the crypto world with the approval of Bitcoin and Ethereum ETFs. The Hong Kong Securities and Futures Commission (SFC) gave the green light, albeit conditional, for the launch of the first spot exchange-traded funds (ETFs) for BTC and ETH on April 15. As reported by Reuters.
Hong Kong’s Harvest and Bosera have already received conditional approvals from the SFC, allowing them to move forward with their plans. Meanwhile, China Asset Management’s Hong Kong unit is also in the process of developing BTC and ETH spot ETFs after obtaining regulatory approval to provide virtual asset management services.
The SFC issues a conditional authorization letter for an ETF application if it meets its general requirements, subject to various conditions. Including fee payments, document submission and Hong Kong Stock Exchange (HKEX) listing approval.
Bitcoin Wallet “Sleeping” for 14 Years Wakes Up and Transfers 50 BTC to Coinbase
A Bitcoin wallet, dormant for 14 years, wakes up to move 50 BTC valued at $3.28 million to Coinbase. The surprise arose when on-chain data revealed that this wallet, dating back to April 2010, belongs to one of the first Bitcoin miners to receive BTC as a reward.
The movement of such a considerable amount of Bitcoin always captures attention in the crypto community. These “crypto whales,” as they are known, can influence the market with their transactions. Which makes investors analyze their movements for possible indicators of price trends.
Stepn and Adidas Partner to Launch NFT Collection of Solana Sneakers
On Monday, Move-to-earn game Stepn announced an exciting collaboration with leading sportswear brand, Adidas. The Stepn x Adidas Genesis Sneakers collection marks the beginning of a series of joint activities between the two companies. This year-long partnership will lead to more NFT and physical product releases.
“This collaboration between Stepn and Adidas highlights the power of moving and earning money in both the virtual and real world at the same time,” said Shiti Manghani, CEO of Stepn, in a statement. “The fact that a physical and digital partnership between the most used lifestyle app and a global brand like Adidas is now a reality indicates the direction lifestyle rewards are heading.”
Vitalik Buterin Endorsement Soars Railgun Token (RAIL) 123%
Railgun Privacy Protocol (RAIL) saw a massive 123% surge after Vitalik Buterin expressed his support on This public endorsement from someone so influential in the world of cryptocurrencies generated a lot of interest in the token. As a result, its price skyrocketed rapidly.
What’s interesting is that Buterin didn’t just stop at words, he backed up his support with real actions by transferring a large amount of ETH to Railgun on Monday. This action not only strengthened trust in the project, but also highlighted its commitment to privacy in the cryptocurrency ecosystem.
This rise in Railgun price coincides with a good day in the broader cryptocurrency market. Bitcoin and Ethereum also posted gains, indicating positive sentiment across the industry. It appears that the community is responding favorably to projects that promote online privacy and security.
By Leonardo Perez