Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Harvest Fund Spots Bitcoin ETF Application in Hong Kong: Report
ADOPTION NEWS

Harvest Fund Spots Bitcoin ETF Application in Hong Kong: Report

By Crypto FlexsJanuary 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Harvest Fund Spots Bitcoin ETF Application in Hong Kong: Report
Share
Facebook Twitter LinkedIn Pinterest Email

The Hong Kong branch of Harvest Fund Management, a major Chinese asset manager, reportedly submitted an application for a spot Bitcoin exchange-traded fund (ETF) to local financial regulators last Friday. get ready The first batch of spot cryptocurrency ETFs will be launched soon.

tencent news reported Today, Harvest submitted its spot Bitcoin ETF application to the Securities and Futures Commission, hoping to launch the city’s first ETF after the Lunar New Year holiday, which falls on February 10 this year.

Harvest and SFC did not immediately respond to The Block’s request for comment.

Earlier this month, Livio Weng, COO of Hong Kong cryptocurrency exchange HashKey, said: 10 fund companies The city has begun investigating a potential spot crypto ETF launch.

Hong Kong-based Venture Smart Financial Holdings Ltd. (VSFG) said it aims to: Spot Bitcoin ​​ETF launched According to the first quarter bloomberg.

Growing interest in stablecoins

Meanwhile, Hong Kong is strengthening its efforts to Pushing for stablecoin rulesSeveral companies have shown interest in stablecoin-related trials, including Harvest Global Investments, RD Technologies and VSFG, Bloomberg reported today.

The companies are in discussions with the Hong Kong Monetary Authority, the de facto central bank, about potential stablecoin trials, according to people familiar with the matter.

Sean Lee, senior advisor and head of stablecoins at VSFG, told The Block that the company expects the stablecoin sandbox process to begin in the first quarter and continue through the first half of 2024.

“VSFG is committed to supporting Hong Kong as an international virtual asset center, and our dedicated department, IDA, will apply for sandbox inclusion with our consortium partners to demonstrate the potential of programmable digital currencies while meeting prudential requirements. .” Lee said.

An HKMA spokesperson told The Block that the sandbox agreement is for issuers of fiat-referenced stablecoins (FRS) “who have a genuine interest and reasonable plans to issue FRS in Hong Kong.”

“HKMA is preparing to launch the sandbox and will announce relevant details in due course,” the spokesperson added.

Harvest and RD Technologies have not yet responded to inquiries from The Block.

Last December, the HKMA jointly said: consultation documents with The Department of Financial Services and Treasury said stablecoin issuers must obtain a license from the authority “if they issue stablecoins referencing the value of one or more fiat currencies in Hong Kong.”

HKMA CEO Eddie Yue said at the time that stablecoins “could become an interface between traditional finance and virtual asset markets.”

“In a scenario where stablecoins become one of the preferred payment options for the general public, we should reasonably expect further integration between the digital payments ecosystem and the real economy, and whether stablecoins are in fact ‘stable’ will become even more important. It will. “Yue said in December. name.

Update: Added comments from HKMA and VSFG


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Relax adds another sequel with Money Cart 4 slot.

February 13, 2024

Rivian improves XR design with NVIDIA RTX Pro Blackwell GPUS.

May 6, 2025

ZK-based Layer-2 launched using Polygon CDK via Fuse Network

December 19, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.