Harvest Files First Spot Bitcoin ETF application In Hong Kong

In what could be a landmark moment, Harvest Fund Management has filed the first spot Bitcoin ETF application in Hong Kong. Indeed, the Chinese asset management firm’s Hong Kong arm has filed with the local regulator according to a brand new Tencent news report.

The report notes that the application was filed with the Securities and Futures Commission (SFC). Moreover, Harvest has stated its expectations that the launch of what would be the first ETF of its kind in Hong Kong would arrive after the Lunar New Year Holiday. Specifically, that would mean it would arrive after February 10th of this year.

Also Read: Hong Kong Regulators to Accept Spot Crypto ETF Applications

Hong Kong Gets Inagural Spot Bitcoin ETF Application

The landscape of the digital asset industry in the United States shifted greatly at the start of 2024. Indeed, the countries US Securities and Exchange Commission (SEC) approved the creation of 11 Spot Bitcoin ETFs. Although those investment products have failed to live up to expectations, it remains a landmark development.

Now, a similar chain of events could be taking place in one of the world’s most prominent city-states. Indeed, Harvest Funds has filed the very first spot Bitcoin ETF application in Hong Kong. Subseuqnlwety, the report states that the Chinese asset management firm expects approval, and a launch, to take place early this year.

Also Read: Spot Bitcoin ETFs Achieve $4 Billion AUM Milestone in First 7 Days

The regulator has said that it will accept applications. However, neither the SFC nor Havent Fund has commented on the recently reported ETF filing. Conversely, HashKey COO Livio Weng recently discussed Spot Bitcoin ETF aspirations in the city.

Specifically, he said that around 10 fund companies would be inquiring about launching the investment product in the city. Subsequently, a Bloomberg report notes that Hong Kong-based Venture Smart Financial Holdings is seeking to launch a Spot Bitcoin ETF. Moreover, they are expecting their iteration to launch in the first quarter.