Hong Kong-Based Asset Manager VSFG and Value Partners Apply for Spot Bitcoin ETF

, together with its partner, Value Partners, have applied for a spot-bitcoin exchange-traded fund with Hong Kong’s Securities and Futures Commission , VSFG's Head of Investment and Products Brian Chan told CoinDesk on Wednesday.said the SFC is likely to allow in-kind creations and redemptions for spot bitcoin ETFs in the second quarter of this year.

In December 2023, less than two weeks after nearly a dozen applicants won approval for spot bitcoin ETFs in the U.S., Hong Kong regulators said, a major asset-management company in China, purportedly became the first to apply for a spot bitcoin exchange-traded fund with the SFC. As many as 10 financial institutions have planned to apply to launch bitcoin ETFs in Hong Kong, local reports have

Hong Kong firm Venture Smart Financial Holdings has also said it will file a spot bitcoin ETF application, according toin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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