The Hong Kong subsidiaries of two China-based asset management firms have submitted applications to offer spot bitcoin exchange-traded funds in the administrative region.
Harvest Fund and Southern Fund, both located in Hong Kong and each managing assets worth more than $200 billion, filed requests on Monday to offer the funds, Bitcoin Magazine reported, citing the state-owned Securities Times. Due to severe restrictions on cryptocurrency trading and mining, asset managers cannot offer ETFs in mainland China.
The news follows reports that Harvest Fund's Hong Kong arms had submitted an application for a spot bitcoin ETF in January. Crypto investors have waited months for spot bitcoin ETFs' debut in the Hong Kong market. Last year, the Hong Kong Monetary Authority and the Securities and Futures Commission said they would accept applications for the crypto-based ETFs. The funds’ rollouts would allow Hong Kong investors to gain exposure to bitcoin.
In 2022, Harvest Fund Management’s business arm in Hong Kong launched a futures crypto ETF. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong Primed for Bitcoin ETFs, Expert Calls It Game-ChangerHong Kong about to allow Bitcoin ETFs, top Bloomberg expert reveals when and how
Read more »
Hong Kong Likely To Allow In-Kind Creations for Spot Bitcoin ETFs: BloombergHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Read more »
Discussions for Spot Ethereum ETFs in Hong Kong Underway Amidst Bitcoin FrenzyCrypto Blog
Read more »
Mainland Chinese surge into Hong Kong property after stamp duties scrappedMainland Chinese are buying homes in Hong Kong, accounting for up to a third of new property sales after the removal of all additional stamp duties on buyers.
Read more »
Chinese Man Charged with Trafficking Turtles to Hong KongThe US Department of Justice has charged a Chinese man, Sai Keung Tin, with trafficking turtles to his home in Hong Kong. Tin is accused of helping smuggle 40 eastern box turtles and is connected to a convicted turtle smuggler. Prosecutors have charged him with four counts of exporting merchandise contrary to law.
Read more »
Ether ETFs Could Be Bigger Than Bitcoin ETFs, Says VanEckHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Read more »