ETF Options Only Grow in Regulated Soil

June 2024

Crypto prices and Bitcoin in particular have seen a significant rise since the start of the year with the fallout of older scandals dying down and the gradual shifting of stances towards the crypto world from unfavorable to those more willing to consider its benefits.

One event that led to a rapid positive trend in crypto prices occurred when the USA’s SEC approved spot bitcoin exchange-traded funds in January, making it easier for investors to engage with the cryptocurrency. Since then, the price has climbed, reaching highs of over $73,000 which have been attributed to the interest built by Bitcoin spot ETFs, although with the Bitcoin halving event imminent, there may soon be other factors at play influencing the price. 

Other jurisdictions have since approved Bitcoin spot ETFs and the Securities and Futures Commission (SFC) of Hong Kong has recently been reported to be fast-tracking four such exchange-traded funds, which could hit the markets in just a couple of weeks. As one of the top financial hubs in the world, Hong Kong seems to be following the US in capitalizing on investor interest in the crypto world whilst others such as the UK trail behind. 

The development of ETFs in Hong Kong could mark the start of a new stage in the special administrative region’s position as an international financial center; however, as noted in a speech given by the CEO of Hong Kong’s SFC, Julia Leung, the necessity of maintaining regulatory principles, best practices and common law are essential in achieving this whilst maintaining an efficient and fair market.     

When this can be achieved, the success of ETFs, overseen by regulators, should highlight what can happen when the public can trust the security of a promising opportunity. If these opportunities provided by ETFs lead to such a surge in crypto, what could happen if the entire blockchain scene was protected and trusted to the same extent? What new financial tools might be developed for the crypto scene? 

Blockpass is well suited to facilitate the maintenance and management of regulatory standards for businesses around the world, whether for those seeking legitimate individuals to participate in new ETFs being offered or for those seeking to engage in any part of the crypto space. With the promise of instant onboarding for verified identities, privacy and security, and an efficient solutions for a space that is often concerned with speed, scalability and cost, Blockpass meets the crypto and blockchain’s needs for top-grade KYC, AML, KYB and other compliance products, with constant improvements and developments to both improve the process and meet upcoming regulatory requirements. 

The risk of fraud always threatens the financial industry, rising when the interest in a financial instrument or asset grows and bad actors will seek to take advantage of the excitement and uncertainty, but, with appropriate measures in place, the ecosystem can thrive, protected from malicious intent. 

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