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%
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.
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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.