{"id":504683,"date":"2024-04-11T10:46:51","date_gmt":"2024-04-11T10:46:51","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=504683"},"modified":"2024-04-11T10:46:51","modified_gmt":"2024-04-11T10:46:51","slug":"chinas-harvest-may-be-first-fund-manager-to-launch-a-spot-bitcoin-etf-in-hong-kong-later-this-month","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/chinas-harvest-may-be-first-fund-manager-to-launch-a-spot-bitcoin-etf-in-hong-kong-later-this-month","title":{"rendered":"China’s Harvest May Be First Fund Manager To Launch A Spot Bitcoin ETF In Hong Kong Later This Month"},"content":{"rendered":"

China’s Harvest Fund Management Co.’s international arm may gain approval later this month to launch a <\/span>spot Bitcoin ETF<\/span><\/a> (exchange-traded fund) in Hong Kong.<\/span><\/p>\n

That’s according to a Bloomberg report<\/a> that cited p<\/span>eople familiar with the matter, after Reuters <\/span>said<\/a> earlier that the first approvals are likely to be announced in the next week. <\/span><\/p>\n

\"Bitcoin<\/p>\n

Asset Managers Allowed To Manage Virtual Asset Portfolios<\/span><\/h2>\n

The city’s Securities & Futures Commission (SFC) gave Harvest the go-ahead on Apr. 9 to provide virtual-asset related fund management services, Bloomberg said. With this approval, the company is allowed to manage portfolios that invest over 10% in digital assets. <\/span><\/p>\n

China Asset Management also received such approval on the same day, according to the SFC’s website. Both of these firms’ parent companies are among the biggest fund managers in China, and each manage more than 1 trillion yuan ($138 billion) in assets.<\/span><\/p>\n

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Hong Kong set to approve its first spot bitcoin ETFs in April, sources say https:\/\/t.co\/F0plGybijY<\/a> pic.twitter.com\/sZnm0UWXH1<\/a><\/p>\n

— Reuters (@Reuters) April 10, 2024<\/a><\/p><\/blockquote>\n