While the United States is moving cautiously, other regions are moving forward more boldly. On April 24, the Hong Kong Securities and Futures Commission (SFC) approved the first batch of spot Bitcoin and Ethereum exchange-traded funds (ETFs). The approval includes three Bitcoin and Ethereum ETFs launched by well-known companies such as China Asset Management, HSBC Global Investments and Bosera Funds. These ETFs are scheduled to start trading on April 30, demonstrating Hong Kong's proactive stance on cryptocurrency products.