The Hong Kong regulator has approved the management of Harvest International and China Asset Management “Coins Circles”. Thus, they finally opened the doors for a spot Bitcoin ETF. Expectations are for a spot Bitcoin ETF to be launched by the end of April. Additionally, experts expect Hong Kong’s spot Bitcoin ETF market to reach around $2 billion.
Approval for two giant companies: Green light for Spot Bitcoin ETF!
cryptokoin.comAs you can see from , the US SEC’s approval of spot Bitcoin ETFs was an important threshold. After this, other countries began to follow this path. Hong Kong Securities and Futures Commission, Harvest International Asset Management Company and China Asset Management (Hong Kong) Co. Ltd. approved its companies for their “coin circle” asset management qualifications. This move paves the way for the launch of spot Bitcoin ETF products, which is expected around the end of April.
The updated list of virtual asset management fund companies on the Hong Kong Securities and Futures Commission’s official website reveals the inclusion of Harvest International and China Asset Management, marking their entry into the virtual asset industry in Hong Kong. These well-known public fund companies are now qualified to introduce coin fund products related to “Coin Circles” to the public, including spot Bitcoin ETFs.
Bitcoin’s door is now open for investors!
Harvest International previously introduced a spot Bitcoin ETF offering. The company had been waiting for this approval for about three months. With this green light, the regulator opened the door for individual investors. Thus, they will soon have the opportunity to invest in Bitcoin-related products through the Hong Kong Stock Exchange.
Sources close to Tencent Finance’s “First Line” say the Hong Kong Securities and Futures Commission’s rapid update of its list of virtual asset management funds on April 10 will result in Hong Kong’s opening of spot Bitcoin ETFs on April 15. He states that he is preparing for the announcement of his party.
The spot Bitcoin ETF market will be lower than the US, but…
Harvest International and China Asset Management are leading the way when it comes to Bitcoin ETF. However, there are other contenders such as Boshi Fund and Value Partners Financial. However, these are not yet included in the updated list due to regulatory compliance issues. Hong Kong’s spot Bitcoin ETF market likely won’t initially reach the scale of its U.S. counterpart. However, industry analysts expect significant interest from investors. Additionally, analysts predict a potential scale of around $2 billion for Harvest International’s offering.
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