Most stocks in the Hong Kong stock market were adjusted today, but boosted by favorable market news, many cryptocurrency ETFs strengthened against the market. ($Crypto ETFs (LIST22873.HK)$)

As of press release,$ChinaAMC Ether ETF (03046.HK)$,$Bosera HashKey Ether ETF (03009.HK)$,$Harvest Ether Spot ETF (03179.HK)$Up about 19%,$ChinaAMC Bitcoin ETF (03042.HK)$,$Bosera HashKey Bitcoin ETF (03008.HK)$,$Harvest Ether Spot ETF (03179.HK)$An increase of more than 6%.

In terms of news, there are reports that the US Securities and Exchange Commission (SEC) may approve a spot Ethereum ETF within this week. According to people familiar with the matter, regulators are urging exchanges to speed up the update of relevant ETF application documents, which may mean that the Ethereum ETF listing application is expected to be approved before the deadline of this Thursday (May 23).

Although some fund companies expect their applications to be rejected by the SEC because communication with regulators is not as frequent as when Bitcoin ETFs were listed, the situation is not entirely pessimistic. There are opinions that even if the application is rejected, the applicant may take legal action, which will bring new hope for Ethereum ETFs to enter the market. Furthermore, although the SEC may indefinitely delay another critical process, there is still a possibility that an Ether ETF will be listed.

As of press time, ETH (Ethereum) rose 19.12% to $3685.82.

At the same time, according to the latest data on Monday, Bitcoin spot ETFs also changed their decline and received new capital injections of nearly 1 billion US dollars during the day, halting the trend of capital outflows.

Why are cryptocurrency ETFs getting so much attention in the market?

In fact, long before the opening of cryptocurrency ETFs in the Hong Kong stock market, the US approved the listing of Bitcoin spot ETFs on its exchange earlier this year.

These ETFs are issued by multiple institutions, including Grayscale, Bitwise, Hashdex, iShares, Valkyrie, Ark 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, and Franklin. According to relevant data, after only about 3 months of listing, US spot Bitcoin ETFs continued to have huge inflows, with a scale close to 58.9 billion US dollars.

In response, Bloomberg Industry Research ETF Asia Pacific's chief analyst said earlier that the asset management scale of Hong Kong's spot Bitcoin and Ether ETFs is expected to reach 1 billion US dollars, but whether this goal can be achieved will probably depend on the speed of infrastructure and ecosystem improvements.

edit/new