Chinese asset managers apply for spot Bitcoin ETFs in Hong Kong
Hong Kong-based subsidiaries of Chinese asset management firms Harvest Fund and Southern Fund have filed applications with regulators for spot Bitcoin ETFs.
Both companies operate in Hong Kong. And each manages assets worth more than $200 billion.
Harvest Fund and Southern Fund were unable to offer ETFs due to severe restrictions on cryptocurrency trading and mining in mainland China. However, the companies' subsidiaries in Hong Kong have applied for spot Bitcoin ETFs.
Crypto-based ETFs gain traction in Asian markets According to The Block, cryptocurrency investors have been waiting for the debut of spot Bitcoin ETFs in the Hong Kong market for months. In 2023, the Hong Kong Monetary Authority and the Securities and Futures Commission announced that they would accept applications for cryptocurrency-based ETFs.
Additionally, Harvest Fund Management's business arm in Hong Kong offered its crypto futures ETF to customers in 2022.
