Multiple asset management firms based in China have expressed interest in offering spot Bitcoin exchange-traded funds (ETFs) through their Hong Kong subsidiaries.
Multiple asset management firms based in China have expressed interest in offering spot Bitcoin exchange-traded funds (ETFs) through their Hong Kong subsidiaries. Harvest Fund and Southern Fund, two prominent firms managing assets exceeding $200 billion each, have reportedly been exploring the possibility of introducing such ETFs.
The move comes as a result of stringent restrictions on cryptocurrency trading and mining in China, which prevent asset managers from offering ETFs within the country. Harvest Fund's Hong Kong arms had already submitted an application for a spot Bitcoin ETF in January. Southern Fund, which currently offers Bitcoin futures ETFs and ether futures ETFs in Hong Kong, may also be considering the launch of a spot Bitcoin ETF.
Crypto investors in Hong Kong have eagerly anticipated the introduction of spot Bitcoin ETFs to the local market. In the previous year, the Hong Kong Monetary Authority and the Securities and Futures Commission announced their acceptance of applications for cryptocurrency-based ETFs. The availability of these funds would provide Hong Kong investors with a means to gain exposure to bitcoin.
In 2022, Harvest Fund Management's Hong Kong business arm successfully launched a futures crypto ETF, demonstrating the firm's previous foray into cryptocurrency-related investment products.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
