Hong Kong Said Likely to Approve Spot Bitcoin ETFs Next Week: Reuters

Hong Kong is likely to approve the first set of applications for spot-bitcoin exchange-traded funds this week, Reuters reported.

A total of four entities have submitted applications to launch the spot bitcoin ETFs in Hong Kong, the report said.

Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds (ETF) next week, making it possible that the products could be ready to start trading in April, Reuters reported, citing two people familiar with the matter.

Australia and Hong Kong are the two jurisdictions that could become the first in Asia to offer spot bitcoin ETFs, with Singapore and the UAE not reflecting immediacy just yet.

Hong Kong’s regulators have sped up the approval process, Reuters said, citing one of the people.

Harvest Global Investments, a major asset-management company in China, and asset manager VSFG, together with its partner, Value Partners, have applied to the Securities and Futures Commission (SFC) for a spot ETF, CoinDesk has reported.

The Reuters report said four entities have submitted applications to launch the spot bitcoin ETFs. It named three of them as the Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management.

The SFC and the three companies identified didn’t immediately respond to a CoinDesk request for comment.

Edited by Sheldon Reback.

 

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