Chinese whispers suggest Bitcoin ETFs could be approved in Hong Kong next week

RUMOURS among crypto analysts in Asia are pointing to the possibility Hong Kong speeding up its approvals process in relation to spot Bitcoin exchange-traded funds.

It is understood regulators have accelerated the process to the point where the first approvals could even be announced next week.

Sources say Hong Kong's authorities are keen to inject some energy into the region's stuttering economy which has steadily faltered following an inability to bounce back after pandemic restrictions.

They claim four asset management companies from China and Hong Kong have submitted applications to launch ETFs.

The Securities and Futures Commission - Hong Kong's financial authority - was approached for comment by The Digital Commonwealth, but declined the opportunity.