According to Foresight News, according to Zhitong Finance, FUTU Holdings (FUTU. US) rose more than 5% to $137.32. On the news front, Morgan Stanley raised its target price for Futu to $160. The bank stated that Futu will complete the upgrade of its Hong Kong No.1 license in July 2024 and can provide cryptocurrency trading services to retail investors in Hong Kong; Cheetah, a subsidiary of Futu, officially obtained a VATP license issued by the Hong Kong Securities and Futures Commission in January 2025. It is expected that spot trading will bring in an incremental revenue of HKD 3.4 billion by 2027, and if stablecoins/derivatives are approved, an additional HKD 1.6 billion can be generated.
