The Hong Kong branch of Harvest Fund Management, a significant Chinese asset manager, has reportedly applied for approval from the local financial regulator to launch a spot Bitcoin exchange-traded fund (ETF).
According to Tencent News, Harvest hopes to debut the city’s inaugural spot Bitcoin ETF shortly after the Lunar New Year holiday, which is on February 10 this year.
Livio Weng, COO of Hong Kong’s HashKey crypto exchange, mentioned earlier this month that approximately 10 fund companies are exploring the possibility of introducing spot crypto ETFs in Hong Kong.
Venture Smart Financial Holdings Ltd. also expressed its intention to launch a spot Bitcoin ETF in the first quarter of the year. Harvest and the Securities and Futures Commission have not yet commented on this development.
