Hong Kong to launch spot Bitcoin ETF
Key Takeaways
- Hong Kong SFC has added Harvest International Asset Management and China Asset Management to its approved virtual asset funds, allowing them to issue Bitcoin ETFs on the Hong Kong Stock Exchange.
- Hong Kong’s first Bitcoin ETF is expected to be announced by April 15, and it will take approximately two weeks to prepare for exchange listing.
- This update is in line with global trends, such as the US SEC’s approval of the Bitcoin ETF earlier this year.
Hong Kong Securities and Futures Commission (SFC) We have updated the list of approved virtual asset management funds. Includes Harvest International Asset Management and China Asset Management (Hong Kong) Co., Ltd.
Included in the list allow This is a fund for issuing currency-related products such as spot Bitcoin (BTC) and exchange traded funds (ETFs). Through the Hong Kong Stock Exchange
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According to local media outlet Tencent, SFC urgently updated the list on April 10. Hong Kong’s first spot Bitcoin deployment announced ETFs until April 15th.
Then the Hong Kong Exchange About 2 weeks Prepare product listings and other issues.
In addition to Harvest International and China Asset Management, Boshi Fund and Value Partners Financial also submitted applications. For ETFs; However, the company was not added to the list. This is because it does not meet certain regulatory requirements.
This update paves the way for retail investors to access cryptocurrency investments through regulated channels. This is an important moment in Hong Kong’s financial development and approach to the future of virtual asset management.
The approval of a spot Bitcoin ETF in Hong Kong follows approval from the US SEC earlier this year, underscoring a growing global trend to integrate cryptocurrencies into the mainstream financial system.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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