Bitcoin ETF to start trading in Hong Kong soon, Morgan Stanley reverses course to actively solicit sales

After the Hong Kong Securities and Futures Commission (SFC) formally approved the launch of a Bitcoin and Ethereum (ETH) spot ETF on April 24, trading in the China Asset Management (ChinaAMC) ETF will begin on April 30, according to Cointelegraph.

It was previously reported that Bocera-Hashiki and Harvest Global's Bitcoin and Ethereum spot ETFs have received formal launch approval from the SFC, with Harvest Global saying it expects to launch and exchange-list the products in late April. On April 15, the Hong Kong SFC conditionally approved the launch of Bitcoin and Ethereum spot ETFs applied for by the above companies.

Meanwhile, “Global investment bank Morgan Stanley is considering expanding the sale of bitcoin spot exchange-traded funds (ETFs) through its roughly 15,000 stockbrokers,” AdvisorHub, a media platform dedicated to U.S. financial advisors (FAs), reported on Thursday, citing two sources familiar with the matter.

“Like other brokerage firms, Morgan Stanley has offered clients the ability to buy BTC spot ETFs since regulatory approval in January, but has maintained a ‘non-solicitation’ approach that requires investors to contact advisors directly. If the policy were to change and allow FAs to recommend BTC spot ETFs directly to clients, it could increase demand, but it could also increase the liability for Morgan Stanley.” “Morgan Stanley is creating ‘guardrails’ for recommendations to buy BTC spot ETFs, including risk tolerance requirements and trading frequency limits,” the source said, but declined to specify when the policy would change.