Multiple fund Hong Kong subsidiaries will explore applying for a physical Bitcoin ETF

According to the China Fund News, a Hong Kong Bitcoin spot ETF may soon be launched. Following the approval of the first batch of Bitcoin spot ETFs in the United States, Hong Kong financial institutions are accelerating their layout pace for virtual asset spot ETFs. It is reported that some fund company subsidiaries have submitted relevant applications, and those who have not yet submitted applications are also speeding up preparations. CSOP International has become the first institution to submit a Bitcoin spot ETF application to the Securities and Futures Commission of Hong Kong. In addition, many institutions in Hong Kong are eagerly preparing. A person from Huaxia Fund (Hong Kong) stated that Huaxia Hong Kong is actively studying the operation mechanism of virtual asset spot ETFs under the guidance framework of the Securities and Futures Commission of Hong Kong, and exploring the development prospects of virtual asset ETFs in Hong Kong. Another fund company revealed that it was announced earlier by SFC that they were ready to accept applications for virtual asset spot ETFs, with some institutions having already submitted applications. Furthermore, there are banks in Hong Kong currently supporting customers to trade on HKEX-listed virtual asset ETFs, providing a relatively safe indirect access to cryptocurrency markets.