"Hong Kong Approves First Bitcoin and Ethereum ETFs, Prices Surge"

Bitcoin and ether have seen price increases as several issuers in Hong Kong claim to have been approved for spot crypto exchange-traded funds (ETFs), although the official statement from the Securities and Futures Commission (SFC) has not been released. The ETF approvals, when confirmed, are expected to unlock institutional demand during Asia trading hours, providing an alternative for investors who were previously limited to US hours.