- The Hong Kong branch of Harvest Fund Management has applied to launch a spot Bitcoin ETF.
- The company expects to receive approval from the local regulator and begin trading after February 10.
- Venture Smart Financial Holdings is also in discussions with the SFC about the potential launch of a spot Bitcoin ETF in Hong Kong.
Harvest Fund Management’s Hong Kong branch, known as Harvest Hong Kong, has recently made headlines by submitting an application to list a spot Bitcoin ETF. This move marks a significant step forward for the financial institution, as it is the first entity in Hong Kong to pursue the launch of a Bitcoin spot ETF.
According to reports, Harvest Hong Kong has applied to the Securities and Exchange Commission of Hong Kong (SFC) to seek approval for the launch of their new product. The approval process is currently underway, and if granted, Harvest Fund Management aims to start trading the spot Bitcoin ETF after February 10.
Harvest Fund Management is a notable player in the investment industry in China, boasting a significant presence in the market. It sets strict criteria for its products, including the requirement to work with assets listed on SFC-approved exchanges.
Another Hong Kong-based financial services firm, Venture Smart Financial Holdings (VSFG), is also engaged in discussions with the SFC regarding the potential launch of a Bitcoin ETF in the first quarter of 2024. Furthermore, OSL crypto exchange CEO Gary Tiu has predicted the listing of exchange-traded funds in the region to occur around mid-2024.