China’s largest mainland equity funds entering spot Bitcoin ETF market
China’s largest mainland equity funds are quietly entering the spot Bitcoin ETF market, as reported by China’s state-owned newspaper Securities Times. These mainland Chinese fund companies are using their Hong Kong subsidiaries to explore spot Bitcoin ETFs, demonstrating a strong interest in this new investment avenue.
The report reveals that Chinese mainland-based equity funds have applied to launch spot Bitcoin ETFs through their Hong Kong branches.
Although the full list of companies interested in offering spot Bitcoin ETFs remains undisclosed, it is confirmed that Harvest Fund Management and China Asset Management, among others, are actively pursuing approval from the Securities & Futures Commission of Hong Kong. The industry insiders suggest that relevant applications for spot Bitcoin ETFs in Asia could materialize as early as this quarter.
SFC and HKMA acknowledge growing interest in spot crypto ETFs
In a related development, the SFC and the Hong Kong Monetary Authority have acknowledged the growing interest in spot crypto ETFs, paving the way for potential regulatory approval in the future. While the SFC has allowed licensed crypto providers to offer crypto futures ETFs in the region, the approval for spot ETFs is still pending.
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Disclaimer
This article is for informational purposes only and should not be considered as financial advice. Investors should conduct their own research before making any investment decisions.
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