Coinspeaker
Asset Manager VSFG Joins Race for Spot Bitcoin ETF Approval in Hong Kong

Hong Kong-based asset manager VSFG has tapped Value Partners to signal its intent to vie for a space in the region’s spot Bitcoin exchange-traded fund (ETF) market. This follows after Chinese-based Harvest Global Investments became the first company to submit such an application to the Securities and Futures Commission (SFC) back in January.

Brian Chan, Head of Investment and Products at VSFG, has confirmed the application. However, the move only further underscores the growing anticipation in the Asian region, especially as it relates to the cryptocurrency investment landscape.

Recall that reports recently filtered that the SFC is preparing to give the green light to such ETF innovations. That is by the second quarter of this year. So, it comes as no surprise that firms like VSFG would like to seize the opportunity to earn early-bird benefits in the market.

Hong Kong Is Exemplifying Crypto Innovation

VSFG’s decision to pursue a spot Bitcoin ETF is a testament to the wider impact of regulation on innovation. Although the SFC appears to be following in the footsteps of the US Securities and Exchange Commission (SEC), there’s no ...