Home Crypto Bitcoin Hong Kong-Based mostly Asset Supervisor VSFG and Worth Companions Apply for Spot Bitcoin ETF

Hong Kong-Based mostly Asset Supervisor VSFG and Worth Companions Apply for Spot Bitcoin ETF

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Hong Kong-Based mostly Asset Supervisor VSFG and Worth Companions Apply for Spot Bitcoin ETF

Asset supervisor VSFG, along with its companion, Worth Companions, have utilized for a spot-bitcoin exchange-traded fund (ETF) with Hong Kong’s Securities and Futures Fee (SFC), its Head of Funding & Merchandise Brian Chan instructed CoinDesk on Wednesday.

Earlier this week, a report from Bloomberg Intelligence stated the SFC is more likely to permit in-kind creations and redemptions for spot bitcoin ETFs within the second quarter of this 12 months.

In December 2023, lower than two weeks after almost a dozen candidates received approval for spot bitcoin ETFs within the U.S., Hong Kong regulators stated they had been prepared to contemplate purposes for spot crypto ETFs.

In January, Harvest International Investments, a significant asset-management firm in China, purportedly turned the primary to use for a spot bitcoin exchange-traded fund (ETF) with the SFC. As many as 10 monetary establishments have deliberate to use to launch bitcoin ETFs in Hong Kong, native studies have beforehand stated.

Hong Kong agency Enterprise Sensible Monetary Holdings has additionally stated it should file a spot bitcoin ETF software, in line with Bloomberg.

Hong Kong’s regulators have been making an attempt to loosen their grip on crypto in an try and turn into a worldwide hub for the sector.

Learn Extra: Bitcoin ETFs in and Round Asia After U.S. Approvals? Analysts Are Optimistic About Momentum

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