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<div class="cryptonews">
 <p>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;</p>
 <p>Value Partners Group and Venture Smart Financial Holdings (VSFG), two Hong Kong-based <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a>s <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/managers.html">managers</a>, reached a memorandum of understanding to collaborate on offering traditional investment vehicles underpinned by digital <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a>s to local retail and institutional investors.</p>
 <p>Top of the list for both firms is the possible introduction of ETFs that track spot Bitcoin (BTC) ETFs, per a statement shared with crypto.news.&nbsp;</p>
 <p>Value Partners CEO June Wong said the <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a> <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/managers.html">managers</a> 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 <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a> class.</p>
 <p>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 <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a> landscape.</p>
 <div class="cn-block-related-link"><span> You might also like: </span> Hong Kong to reportedly debut spot crypto ETFs by mid-year
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 <blockquote class="wp-block-quote">
  <p>The plan to launch a spot Bitcoin ETF marks our first collaborative initiative, offering Hong Kong investors exposure to the world’s largest digital <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/asset.html">asset</a>, all while enjoying the convenience and efficiency of the ETF vehicle.</p> <cite>June Wong, Value Partners CEO</cite>
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 <p>VSFG 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, said the government was moving toward enabling these products to be listed on local exchanges.</p>
 <p>Hong Kong lawmakers already pushed 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 flowed in and out of America’s first batch of spot BTC ETFs just two weeks after launch.</p>
 <p>According to HashKey, nearly 10 hedge funds have indicated readiness to launch crypto spot ETFs, while Hong Kong’s securities regulator hinted at allowing local investors to participate.</p>
 <div class="cn-block-related-link"><span> Read more: </span> BlackRock and Fidelity lead billion-dollar spot Bitcoin ETF race
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/asian-asset-managers-agree-on-hong-kong-spot-bitcoin-etf-tbt77757.html">https://thebittimes.com/asian-asset-managers-agree-on-hong-kong-spot-bitcoin-etf-tbt77757.html</a></p>

Asian asset managers agree on Hong Kong spot Bitcoin ETF

TheBitTimes

Other articles published on Jan 25, 2024

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