SFST's speech at Listing Ceremony of Asia's First Crypto Futures Exchange Traded Funds (English only)
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Ladies and gentlemen,
Good morning. It gives me great pleasure to be here today at the listing ceremony of the Crypto Futures ETFs of CSOP Asset Management on the Stock Exchange of Hong Kong.
Taking this opportunity, I would like to reinforce the Government's commitment and support in the development of virtual assets. I am very delighted to see that on the one hand, how Hong Kong's capital market is being leveraged for the development of virtual assets and on the other hand, the inclusion of crypto futures ETFs which add vibrancy and diversity to our world class, internationally renowned capital market.
Just in October, the Government issued the Policy Statement on Development of Virtual Assets (VA) in Hong Kong, setting out the vision and policy direction of the Government and pragmatically laying out the Government's support measures for the VA industry. Following the Policy Statement, the SFC (Securities and Futures Commission) issued a circular on ETFs with VA futures as underlying, providing details on the authorisation of VA futures ETFs for public offering in Hong Kong. We believe that having these products launched in Hong Kong will provide the connectivity between VA players and traditional financial institutions, offering investors with products of proper safeguards, hence promoting the overall growth of this sector in our market.
Now less than two months, we have the first crypto futures ETFs listing on our stock exchange. The successful listing today not only marks a new page of our securities markets, but also marks the beginning of a new phase of well-regulated VA products available in Hong Kong.
The Government and the SFC welcome quality VA products and VA service providers' participation in our market. Hong Kong is a pioneer to implement a comprehensive regulatory regime, which can increase investor confidence. The Government hopes and is confident that Hong Kong can develop a prosperous VA industry and ecology.
Thank you once again to all guests today and best wishes to all.
Ends/Friday, December 16, 2022
Issued at HKT 11:14
Issued at HKT 11:14
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