Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin ETF fever spread outside the U.S., with Hong Kong regulators open to the product and local firms racing to become the first movers on the scene.&nbsp; 
Value Partners Group and Venture Smart Financial Holdings (VSFG), two Hong Kong-based assets managers, reached a memorandum of understanding to collaborate on offering traditional investment vehicles underpinned by digital assets to local retail and institutional investors. 
Top of the list for both firms is the possible introduction of ETFs that track spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) ETFs, per a statement shared with crypto.news.&nbsp; 
Value Partners CEO June Wong said the asset managers hope to capitalize on Hong Kong’s crypto-friendly regulatory approach, drawing on a combined experience and expertise spanning decades to provide transparent and liquid access to Bitcoin as an asset class. 
The pair also plan to capture first-mover advantages in what Lawrence Chu, Chairman at VSFG, described as a rapid financial evolution in Hong Kong and the global virtual asset landscape. 
 You might also like: <a href="https://crypto.news/hong-kong-to-reportedly-debut-spot-crypto-etfs-by-mid-year/"> Hong Kong to reportedly debut spot crypto ETFs by mid-year </a> 
<blockquote class="wp-block-quote"> 
 The plan to launch a spot Bitcoin ETF marks our first collaborative initiative, offering Hong Kong investors exposure to the world’s largest digital asset, all while enjoying the convenience and efficiency of the ETF vehicle. <cite>June Wong, Value Partners CEO</cite>
</blockquote> 
<a href="https://crypto.news/hong-kongs-venture-smart-financial-to-launch-spot-bitcoin-etf-in-q1/">VSFG</a> and Venture Partners may contend with active competition as Hong Kong could debut spot Bitcoin ETFs by mid-year. Gary Tiu, chief executive and head of regulatory affairs at OSL, <a href="https://crypto.news/hong-kong-to-reportedly-debut-spot-crypto-etfs-by-mid-year/">said</a> the government was moving toward enabling these products to be listed on local exchanges. 
Hong Kong lawmakers already <a href="https://crypto.news/hong-kong-lawmaker-advocates-for-swift-adoption-of-spot-bitcoin-etfs-following-us-lead/" target="_blank" rel="noreferrer noopener">pushed</a> for the swift adoption of spot BTC ETFs following approval of the same products in the U.S. by the Securities and Exchange Commission (SEC). Billions of dollars have <a href="https://crypto.news/blackrock-and-fidelity-lead-billion-dollar-spot-bitcoin-etf-race/" target="_blank" rel="noreferrer noopener">flowed</a> in and out of America’s first batch of spot BTC ETFs just two weeks after launch. 
According to HashKey, nearly 10 hedge funds have <a href="https://crypto.news/nearly-10-hedge-funds-are-set-to-launch-spot-crypto-etfs-in-hong-kong-hashkey-says/" target="_blank" rel="noreferrer noopener">indicated</a> readiness to launch crypto spot ETFs, while Hong Kong’s securities regulator <a href="https://crypto.news/hong-kong-signals-willingness-to-greenlight-crypto-spot-etfs/" target="_blank" rel="noreferrer noopener">hinted</a> at allowing local investors to participate. 
 Read more: <a href="https://crypto.news/blackrock-and-fidelity-lead-billion-dollar-spot-bitcoin-etf-race/"> BlackRock and Fidelity lead billion-dollar spot Bitcoin ETF race </a>

Asian asset managers agree on Hong Kong spot Bitcoin ETF

crypto.news

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