Hong Kong SFC Adds Major Funds to Virtual Asset Management List Ahead of Bitcoin ETF Launch
- Hong Kong's SFC includes Harvest International and China Asset Management in its virtual asset management fund list.
- With 18 funds authorized for "currency circle" asset management, Hong Kong plans to launch its first spot Bitcoin ETFs on April 15.
Lately, Hong Kong has been making efforts to adopt cryptocurrency and blockchain technology, and recent policy briefs from the Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) show their commitment to establishing transparent regulations and safeguarding investors.
On April 10, the Hong Kong SFC updated its list of virtual asset management fund companies on its official website, including Harvest International Asset Management Company (known as Harvest International) and China Asset Management (Hong Kong) Co., Ltd. (known as China Asset Management).
The Hong Kong SFC urgently updated the list of virtual asset management funds in the early morning of April 10. It plans to announce the first list of Hong Kong’s four spot Bitcoin spot ETFs on April 15, according to tecentnews, and then the Hong Kong Stock Exchange will take…
— Wu Blockchain (@WuBlockchain) April 10, 2024
Meaning, in addition to their existing traditional asset management operations, these public funds have now incorporated a virtual asset management business.
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At present, there are 18 funds in Hong Kong authorized for "currency circle" asset management, per the official website of the Hong Kong SFC. Among these, Harvest International and China Asset Management are in the first group of public funds to venture into the "currency circle".
In January, Harvest Fund Management's Hong Kong division applied for a spot bitcoin ETF. And according to report, the Hong Kong SFC revised the list of virtual asset management funds as it intended to unveil the first group of spot Bitcoin ETFs in Hong Kong on April 15.
Edited by Harshajit Sarmah
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