Hong Kong-Based Asset Manager VSFG and Value Partners Files for Spot Bitcoin ETF
VSFG, an asset management company, and its partner, Value Partners, have submitted an application for a spot bitcoin exchange-traded fund (ETF) to the Securities and Futures Commission (SFC) in Hong Kong. In December 2023, Hong Kong regulators expressed their readiness to consider applications for spot crypto ETFs, shortly after almost a dozen applicants received approval for spot bitcoin ETFs in the United States.
In addition to VSFG and Value Partners, Venture Smart Financial Holdings, a Hong Kong-based firm, has also stated its intention to file an application for a spot bitcoin ETF, according to Bloomberg.
Harvest Global Investments, a prominent asset management company in China, was reportedly the first to apply for a spot bitcoin ETF with the SFC in January. Local reports indicate that up to 10 financial institutions have plans to launch Bitcoin ETFs in Hong Kong, highlighting the growing interest in this investment vehicle.
Hong Kong regulators have been actively working to create a favorable environment for the cryptocurrency sector in their efforts to establish the city as a global hub for digital assets.
