Chinese asset manager Harvest Fund Management has reportedly filed an application with Hong Kong’s Securities and Finance Commission (SFC) for a spot bitcoin ETF.
According to a report from Tencent News, Harvest intends to launch Hong Kong’s first such ETF after the Chinese New Year in February.
The move comes days after the US Securities and Exchanges Commission approved the first batch of spot bitcoin ETFs after years of opposition.
Speculation has mounted that Hong Kong is set to approve its first crypto ETFs. For example, Hong Kong-based crypto exchange HashKey has stated that as many as 10 fund managers are looking into launching spot bitcoin ETFs.
Meanwhile, Hong Kong continues to explore the feasibility of stablecoins. The Hong Kong Monetary Authority (HKMA) has been in contact with several firms about running stablecoin trials.
In December, Eddie Yue, chief executive of the HKMA, stated that stablecoins could “become the interface between traditional finance and the virtual asset market”.
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