In the digital currency market, investors are anticipating approval from Hong Kong's regulator for spot crypto-ETFs after February 10. Reportedly, this initiative may open up new opportunities. In late January 2024, Harvest Hong Kong – one of China's largest fund managers – submitted a spot Bitcoin ETF application to the Securities and Futures Commission (SFC). Notably, the SFC started accepting applications for crypto-ETFs at the end of 2023. Currently, the regulator is processing the application. According to experts, it may approve the initiative soon. Therefore, the first spot Bitcoin ETF will hit the market after February 10, 2024, when the country will celebrate the Lunar New Year. At the beginning of February, Livio Weng, a top manager at the HashKey crypto exchange, which was the first to obtain a license in Hong Kong, stated that at least ten companies were preparing to launch crypto-ETFs. However, Harvest Fund took the lead by applying to SFC at the beginning of 2024. According to Chan Pui Kwan, the executive director of Victory Securities, a brokerage company in the virtual assets sector, products of this kind could be approved in the first quarter of this year. Previously, CEO of the Securities and Futures Commission Julia Leung noted that the regulator was positive about the introduction of innovative technologies that improve efficiency and attract customers. However, there are several restrictions to consider when launching crypto-ETFs. The regulator will greenlight only licensed companies, as such products carry risks for retail investors. The reasons include opacity in pricing and a high likelihood of market manipulation. Analysts believe that the SFC is guided by the US Securities and Exchange Commission (SEC). In addition, Hong Kong’s regulator may adopt some methods for evaluating a given product. Meanwhile, experts do not rule out that the SFC may approve several applications for spot Bitcoin ETFs in the near future.