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Home»ADOPTION NEWS»Hong Kong subsidiary of Chinese asset manager applies for spot Bitcoin ETF
ADOPTION NEWS

Hong Kong subsidiary of Chinese asset manager applies for spot Bitcoin ETF

By Crypto FlexsApril 8, 20242 Mins Read
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Hong Kong subsidiary of Chinese asset manager applies for spot Bitcoin ETF
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Harvest Fund and Southern Fund, which are based in Hong Kong and each manage more than $200 billion in assets, submitted requests for funding on Monday. bitcoin BTC

+3.07%
The magazine reported, citing the state-run Securities Times. Asset managers cannot offer ETFs in mainland China due to strict restrictions on cryptocurrency trading and mining.

This news follows reports that Harvest Fund’s Hong Kong branch submitted an application for a spot Bitcoin ETF in January.

Cryptocurrency investors have been waiting for months for a spot Bitcoin ETF to hit the Hong Kong market. Last year, the Hong Kong Monetary Authority and the Securities and Futures Commission announced that they would accept applications for cryptocurrency-based ETFs. The launch of this fund will provide Hong Kong investors with exposure to Bitcoin.

In 2022, Harvest Fund Management’s Hong Kong division launched a futures cryptocurrency ETF.


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.

About the author

Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, cryptocurrency, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.

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