Hong Kong approved Bitcoin and Ether ETFs, allowing investments in these cryptocurrencies.

Three local companies got approval from the Securities and Futures Commission (SFC) to launch these ETFs.

The ETFs will be traded using a new method called in-kind creation, where shares can be made directly with Bitcoin and Ether.

This method aims to increase market liquidity and stability by reducing reliance on cash settlements.

The launch dates for these ETFs are still uncertain, but efforts are underway to speed up the process.

Unlike in the US, where cash is used, Hong Kong's ETFs will create shares directly with Bitcoin and Ether.