Hong Kong-based asset managers got the nod from regulators Monday to launch spot bitcoin and ether ETFs, cracking open a market that now lists only futures-based crypto products. Why it matters: Exchange-traded investment products stand to usher in a new crop of bitcoin and ether investors, and have helped push bitcoin prices higher since launching in the U.S. in January. • Bitcoin (BTC) has risen 38% since U.S. funds launched (though other variables are in play), but both it and ether (ETH) gave back early morning gains Monday following the Hong Kong news. The big picture: The global industry of crypto ... (full story)