In a strategic move reflective of the burgeoning interest in cryptocurrencies, two prominent asset managers in Hong Kong, Value Partners and VSFG, have collaboratively submitted an application seeking approval for a spot Bitcoin ETF. This initiative coincides with the widespread anticipation that Hong Kong’s Securities and Futures Commission (SFC) will soon greenlight in-kind creations and redemptions for spot Bitcoin ETFs, potentially in the second quarter of this year.
Growing Interest and Competition in the Hong Kong Market
The involvement of Value Partners and VSFG represents just a fraction of the burgeoning interest and competition unfolding within Hong Kong’s cryptocurrency market. Other significant players, including Harvest Global Investments and Venture Smart Financial Holdings, are also maneuvering to secure their positions in this dynamic space by submitting applications for spot Bitcoin ETFs.
This diverse array of contenders signals a landscape ripe with competition, s
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