The cryptocurrency industry in Hong Kong is eagerly awaiting the approval and launch of spot bitcoin exchange-traded funds (ETFs), urging authorities to expedite the process. Weng Xiaoqi, CEO of Hashkey Exchange, highlights the potential financial burden on Asian investors if Bitcoin ETFs are not approved promptly. Despite the acceptance of applications for spot bitcoin ETFs by Hong Kong's monetary authorities since December 2023, no products have been launched. Notably, industry participants stress the importance of launching these ETFs before the U.S. to bolster Hong Kong's position in the global cryptocurrency market.