OSL, a leading cryptocurrency platform, has been appointed as the exchange and sub-custodian partner for ChinaAMC’s spot ETF in Hong Kong. This partnership marks a significant move in the digital asset market.
OSL will serve as the trading platform and sub-custodian for two approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs, as announced on April 15. China Asset Management (ChinaAMC) and Harvest Fund Management have both received conditional approvals from Hong Kong’s financial regulator, with OSL Digital Securities, a part of the OSL Group, selected to facilitate their services.
The collaboration aims to leverage OSL’s infrastructure to ensure a secure trading environment for the ETFs, meeting regulatory standards to deliver and maintain services effectively. This development is notable as it positions Hong Kong among the select few markets worldwide to approve spot crypto ETFs, following the lead of regions like Canada, Germany, and Switzerland.
Patrick Pan, CEO of OSL, highlighted the significance of this partnership, emphasizing OSL’s commitment to advancing digital asset investments in Hong Kong. The approval of spot BTC and ETH ETFs by the Hong Kong Securities and Futures Commission (SFC) has ignited positive sentiment in the market, reminiscent of the inflows seen after similar approvals in the United States earlier this year.
With spot crypto ETFs opening new avenues for institutional investors to enter the market, today’s uptick in crypto prices contrasts with recent days of significant liquidations, indicating renewed market optimism.
