ETH spot ETF Hong Kong?

It's getting very interesting. Hong Kong is introducing spot crypto ETFs. Next to BTC spot ETF, there is also an ETH spot ETF. Surprising move. Could it be that China wants to outclass the USA and beat them in the race with ETH?

Today in Hong Kong, BTC and ETH ETFs started. This is interesting because it means that the first spot ETFs based on the Ethereum cryptocurrency have appeared on the market. All this is happening while the US authorities still do not want to clearly answer whether ether is a security.

ETFs have started. What does this mean for ETH?

ETFs in Hong Kong are already in operation. They can affect the valuation not only of bitcoin, but also of ether. After all, we are talking about spot funds that will be buying ETH from the market.

The market is also waiting for ETH ETFs in the USA. The matter is complicated here because officials do not want to clearly say whether ether is a security or not. Representatives of China Asset Management, the company behind the largest ETH ETF in Hong Kong, were now asked about this. Its CEO, Zhu Haokang, and the head of OSL Digital Securities, Wayne Huang, did not hide that the opinion of US regulators does not interest them much. The key is that ETH is not recognized as a security in their region.

There is also a legal chaos thread in the USA. Both experts pointed out that "when it comes to cryptocurrency regulations in the United States, many departments speak out simultaneously or try to regulate them." On the other hand, "Hong Kong already had a clear definition of ETH" and it follows from it that it is not a security.

According to the media, the US Securities and Exchange Commission is currently investigating the Ethereum Foundation to determine whether it believes that a particular asset component is a security.