Mainland Chinese fund companies are exploring spot Bitcoin ETFs using their Hong Kong subsidiaries, showing strong interest in the new investment vehicle.
A mainland China-based equity fund has applied to launch a spot Bitcoin exchange-traded fund (ETF) through a subsidiary in Hong Kong, state-run newspaper Securities Times reported, citing multiple sources. It is being
The full list of Chinese companies interested in offering Spot Bitcoin ETFs has not been disclosed, but the Hong Kong branch of Harvest Fund Management has announced plans since January, pending approval from the Hong Kong Securities and Futures Commission (SFC). It has been confirmed that the company is included in the list. According to the report, other Chinese public equity funds are also said to be exploring the feasibility and potential prospects of spot Bitcoin ETF products.
The Hong Kong arm of China Asset Management, one of China's largest asset management companies, has also signed a cooperation agreement with Hong Kong's licensed cryptocurrency exchange Hashkey to “innovate Web 3.0-related initiatives in the asset management industry.” It is reported that they have signed a cooperation agreement to jointly promote and advance the project. Hong Kong. “A final timeline for a Bitcoin spot ETF in Asia has not yet been announced, but industry insiders have suggested that related filings could materialize as early as this quarter.
Momentum for spot crypto ETFs gained momentum in late 2023 when the SFC and the Hong Kong Monetary Authority issued a joint circular acknowledging the growing interest in launching spot crypto ETFs. The SFC has granted permission to licensed crypto providers to offer crypto futures ETFs in the region, but regulatory approval for spot ETFs is still pending.
