Harvest Fund Hong Kong Files for Bitcoin ETF
Harvest Fund Management’s Hong Kong branch has reportedly submitted an application for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Futures Commission. The move comes as local authorities in Hong Kong have shown a willingness to approve spot crypto ETFs. Harvest Fund has not yet made any public statements regarding the filing.
Approval Expected After Chinese New Year
The Securities and Futures Commission (SFC) is said to be leaning towards approving the ETF for listing on the Hong Kong Stock Exchange after the conclusion of the Chinese New Year, which is set to end on February 11. There is a possibility that the SFC may follow the U.S. by approving multiple companies’ applications simultaneously.
Harvest Fund Leading the Way
Harvest Fund is currently the only institution to have formally submitted an application for a spot Bitcoin ETF. Another financial services firm, Venture Smart Financial Holdings Limited, is also planning to introduce its own spot Bitcoin ETF in Hong Kong in Q1.
Harvest Global Investments Ltd. Explores Stablecoin Trials
In addition to pursuing a Bitcoin ETF, Harvest Fund’s subsidiary, Harvest Global Investments Ltd., is in talks with the Hong Kong Monetary Authority regarding stablecoin trials. It is anticipated that Hong Kong will announce its stablecoin regulations by the end of Q1.
About Harvest Fund Management
Harvest Fund Management is one of China’s largest asset management firms, overseeing more than $210 billion in assets under management. The company manages various types of funds, including mutual funds, pension funds, and other investment vehicles.
Hot Take: Harvest Fund Files for Bitcoin ETF Approval in Hong Kong
Harvest Fund Hong Kong has taken a significant step by filing for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Futures Commission. This move aligns with the growing interest in spot crypto ETFs in Hong Kong, as local authorities signal their willingness to approve such products. If approved, this ETF could potentially be listed on the Hong Kong Stock Exchange after the Chinese New Year. Harvest Fund’s application makes them the first institution to formally pursue a spot Bitcoin ETF in Hong Kong. Additionally, Harvest Global Investments Ltd., a subsidiary of Harvest Fund, is exploring stablecoin trials in collaboration with the Hong Kong Monetary Authority. This development showcases Harvest Fund’s commitment to expanding its presence in the cryptocurrency market.
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