Hong Kong Firm Moves to Launch the Region’s First Spot Bitcoin ETF

• Hong Kong-based firm VSFG plans to file a spot Bitcoin ETF application.
• The firm said Hong Kong has a lot of market potential for a spot Bitcoin ETF.
• Last December, Hong Kong’s regulator released a guideline for spot crypto funds.

Venture Smart Financial Holdings Ltd., a Hong Kong-based financial services company, plans to launch the region’s first spot Bitcoin exchange-traded fund (ETF), Bloomberg reported. The firm stated that it intends to file an application with Hong Kong’s Securities and Futures Commission (SFC) to launch the ETF. This move follows a guideline release from the regulator for spot crypto fund approval in the region. 

According to Brian Chan, group head of investment and product at the firm, a spot Bitcoin ETF launch in Hong Kong has a lot of potential. “Our goal is $500 million in assets under management by the end of this year,” the executive remarked. 

Importantly, the firm’s push underscores several institutions’ recent efforts to launch spot Bitcoin ETFs in their regions after the funds went live in the US. Earlier this month, the US Securities and Exchange …

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