Hong Kong's ETF issuers remain unfazed by potential U.S. rulings that may designate Ether as a security, amidst discussions leading to the introduction of spot crypto ETFs in Hong Kong. Zhu Haokang, head of China Asset Management's digital asset management firm, and Wayne Huang, head of OSL Digital Securities, shared insights during a recent press conference on the new institutional investment products.

A significant point addressed was the potential impact on the world's first spot Ether ETF if the United States were to classify it as a security. Huang clarified that the U.S. definition of Ethereum would not sway the independent decision-making of the Hong Kong Securities Regulatory Commission. He stressed that the commission employs its criteria to determine which crypto assets qualify as securities and whether retail investors can trade them.

Highlighting the differing approaches between the U.S. and Hong Kong, Huang underscored why Hong Kong was leading the launch of the world's first spot Ethereum ETF. He affirmed that Hong Kong has a definitive stance on Ethereum, considering it not a security, and confirmed its availability to retail investors alongside Bitcoin.

Meanwhile, the U.S. Securities and Exchange Commission is probing the Ethereum Foundation to ascertain its classification of the asset. Other companies joining the new wave of crypto ETFs include Bosera Asset Management and Harvest Global Investments, which launched their crypto ETFs on the Hong Kong Stock Exchange on April 30. Furthermore, earlier this month, OSL Digital Securities was chosen as the principal virtual asset trading and sub-custodian partner by China Asset Management (Hong Kong).