Harvest Hong Kong, a subsidiary of investment firm Harvest Fund Management (HFM), has applied to list a spot Bitcoin ETF. This was reported by journalist Colin Wu with reference to local media.
According to the information provided, the company has applied to the Securities and Exchange Commission of Hong Kong (SFC) with a request to approve the launch of a new product. If the decision is positive, HFM plans to begin trading after February 10.
Note that Harvest Fund Management is one of the largest investment funds in China. It manages approximately $200 billion in assets.
The filing comes roughly two weeks after the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin ET
Earlier this month, Livio Weng, chief operating officer of Hong Kong crypto exchange HashKey, said about 10 companies were exploring the possibility of launching cryptocurrency ETFs in Hong Kong.
Let us recall that in December the Hong Kong regulator announced its readiness to accept applications for the creation of exchange-traded cryptocurrency funds. In addition, it defined requirements for such products, one of which is work with assets that are listed on SFC-approved exchanges.
In addition to Harvest Hong Kong, Hong Kong-based Venture Smart Financial Holdings (VSFG) also plans to launch a Bitcoin ETF in the first quarter of 2024. Meanwhile, OSL crypto exchange CEO Gary Tiu predicted the listing of exchange-traded funds in the region closer to mid-2024.
