Hong Kong’s VSFG is Launching Their First Spot Bitcoin ETF Fund
The post Hong Kong’s VSFG is Launching Their First Spot Bitcoin ETF Fund appeared first on Coinpedia Fintech News
Venture Smart Financial Holdings Limited, Hong Kong’s financial service firm is planning to launch its spot Bitcoin ETF fund in the first quarter their target is 500 million in assets. Hong Kong is putting efforts to develop their country as a digital asset hub. If the SEC approves their application, then Hong Kong will emerge as the second largest and most significant powerhouse to begin Bitcoin ETF trading. Bloomberg
Impact of Spot Bitcoin ETF Approval
We have witnessed since day one, how to spot Bitcoin ETF approval has gained popularity around the world, especially in the crypto space. Counties are keeping their eye and investors are going crazy for this victory. Hong Kong permits futures-based crypto ETFs and already three have been listed, CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures. They have relatively modest combined assets of about $50 million.
Samsung Asset Management has replied to it and said that it wouldn’t “eliminate the possibility of exploring to launch a spot ETF.” The SFC is showing clear signs as they didn’t have any insights beyond the guidelines it published in December.
Aegis Custody is also planning and talking with four asset managers regarding listing spot crypto products in Hong Kong.
The city’s regulatory requirements are likely to lead issuers to charge higher fees compared with the low management levies at many of the new US spot Bitcoin ETFs.
Serra Wei (Aegis Chief Executive Officer)
Hong Kong’s VSFG is Launching Their First Spot Bitcoin ETF Fund
The post Hong Kong’s VSFG is Launching Their First Spot Bitcoin ETF Fund appeared first on Coinpedia Fintech News
Venture Smart Financial Holdings Limited, Hong Kong’s financial service firm is planning to launch its spot Bitcoin ETF fund in the first quarter their target is 500 million in assets. Hong Kong is putting efforts to develop their country as a digital asset hub. If the SEC approves their application, then Hong Kong will emerge as the second largest and most significant powerhouse to begin Bitcoin ETF trading. Bloomberg
Impact of Spot Bitcoin ETF Approval
We have witnessed since day one, how to spot Bitcoin ETF approval has gained popularity around the world, especially in the crypto space. Counties are keeping their eye and investors are going crazy for this victory. Hong Kong permits futures-based crypto ETFs and already three have been listed, CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures. They have relatively modest combined assets of about $50 million.
Samsung Asset Management has replied to it and said that it wouldn’t “eliminate the possibility of exploring to launch a spot ETF.” The SFC is showing clear signs as they didn’t have any insights beyond the guidelines it published in December.
Aegis Custody is also planning and talking with four asset managers regarding listing spot crypto products in Hong Kong.
The city’s regulatory requirements are likely to lead issuers to charge higher fees compared with the low management levies at many of the new US spot Bitcoin ETFs.
Serra Wei (Aegis Chief Executive Officer)