By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Viral Trending contentViral Trending content
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
Reading: Hong Kong-based Asset Manager VSFG aiming for a May spot Bitcoin ETF launch
Notification Show More
Viral Trending contentViral Trending content
  • Home
  • Categories
    • World News
    • Politics
    • Sports
    • Celebrity
    • Business
    • Crypto
    • Tech News
    • Gaming News
    • Travel
  • Bookmarks
© 2024 All Rights reserved | Powered by Viraltrendingcontent
Viral Trending content > Blog > Crypto > Hong Kong-based Asset Manager VSFG aiming for a May spot Bitcoin ETF launch
Crypto

Hong Kong-based Asset Manager VSFG aiming for a May spot Bitcoin ETF launch

By admin 3 Min Read
Share
SHARE

  • There are reports that the Hong Kong SFC is considering to approve Bitcoin ETFs in Q2 2024.
  • VSFG and Value Partners have applied for approval to offer a spot Bitcoin ETF in Hong Kong.
  • VSFG is targeting to launch the spot BTC ETF as early as May this year.

Hong Kong’s financial landscape is set for a potential transformation as Venture Smart Financial Holdings Ltd (VSFG), a prominent asset management company, gears up to launch a spot Bitcoin exchange-traded fund (ETF) in the country as early as May.

Contents
Hong Kong’s stand on Bitcoin ETFsBitcoin ETF boom and its impact

Collaborating with local firm Value Partners, VSFG has filed an application with the Hong Kong Securities and Futures Commission (SFC) to introduce this innovative investment product to the market.

Hong Kong’s stand on Bitcoin ETFs

Following regulatory considerations initiated in December 2023, Hong Kong regulators have been actively contemplating the approval of spot crypto ETFs within the region.

Earlier, Bloomberg Senior ETF Analyst Eric Balchunas in a post on X, citing a Bloomberg Intelligence report, stated that the SFC is considering allowing in-kind creations and redemptions for spot bitcoin ETFs in the second quarter of this year.

If true, the move will underscore Hong Kong’s growing reputation as a crypto-friendly hub where financial institutions can readily offer innovative products to local investors.

Industry leaders have echoed the sentiment, urging regulators to expedite the launch of spot ETFs in Hong Kong to meet the increasing demand from investors.

Bitcoin ETF boom and its impact

The approval of spot Bitcoin ETFs in the United States in January sparked a surge in offerings by major financial institutions such as Grayscale, BlackRock, and Fidelity Investments. Accumulating approximately $50 billion in assets within a few months, these ETFs have significantly boosted investor engagement in the crypto market.

Moreover, the approval of Bitcoin ETFs coincided with a substantial BTC price escalation, with its value skyrocketing from around $30,000 to as high as $73,700 in March. Currently trading at $70,630, Bitcoin’s value is poised for further growth, especially with the anticipated approval of spot ETFs in Hong Kong.

VSFG’s move to apply for a spot Bitcoin ETF aligns with the broader trend of financial institutions capitalizing on the growing interest in cryptocurrency investment products. If approved, the ETF would streamline the investment process for Hong Kong-based investors, providing them with a regulated and accessible avenue to gain exposure to Bitcoin.

With the potential launch of the spot Bitcoin ETF in May, VSFG aims to position itself at the forefront of Hong Kong’s evolving financial landscape, catering to the increasing demand for crypto investment opportunities in the region.

You Might Also Like

Bitcoin climbs to $111K as a pardon for Binance’s ‘CZ’ fuels a broad crypto rally

WazirX Reopens: Check The Date For When Crypto Withdrawals, Trading Start

Crypto traders brace for Friday’s delayed US inflation report

Analyst Who Called The Gold Surge To ATH And The S&P Rally Has Turned To Bitcoin – Here’s What He Said

Trump on CZ pardon: I'm told ‘what he did is not even a crime’

TAGGED: Crypto, Crypto News, Cryptocurrency News, Markets, News
Share This Article
Facebook Twitter Copy Link
Previous Article Texas’ migrant arrest law is on hold for now under latest court ruling
Next Article “Slap in the face”: Man avoids prison after taking millions from friend’s family
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Ad image

Latest News

Eternal stock dip seen as long-term buying opportunity: Sudip Bandyopadhyay
Business
Bitcoin climbs to $111K as a pardon for Binance’s ‘CZ’ fuels a broad crypto rally
Crypto
WazirX Reopens: Check The Date For When Crypto Withdrawals, Trading Start
Crypto
The Truth About the Meta Display Glasses
Tech News
Hamilton's 'cut-throat' advice for Piastri, Norris in Verstappen title fight
Sports
USB-C Chargers: How to Choose the Best One
Tech News
EU lawmakers cut down proposed forest health data collection law
World News

About Us

Welcome to Viraltrendingcontent, your go-to source for the latest updates on world news, politics, sports, celebrity, tech, travel, gaming, crypto news, and business news. We are dedicated to providing you with accurate, timely, and engaging content from around the globe.

Quick Links

  • Home
  • World News
  • Politics
  • Celebrity
  • Business
  • Home
  • World News
  • Politics
  • Sports
  • Celebrity
  • Business
  • Crypto
  • Gaming News
  • Tech News
  • Travel
  • Sports
  • Crypto
  • Tech News
  • Gaming News
  • Travel

Trending News

cageside seats

Unlocking the Ultimate WWE Experience: Cageside Seats News 2024

Eternal stock dip seen as long-term buying opportunity: Sudip Bandyopadhyay

Investing £5 a day could help me build a second income of £329 a month!

cageside seats
Unlocking the Ultimate WWE Experience: Cageside Seats News 2024
May 22, 2024
Eternal stock dip seen as long-term buying opportunity: Sudip Bandyopadhyay
October 24, 2025
Investing £5 a day could help me build a second income of £329 a month!
March 27, 2024
Brussels unveils plans for a European Degree but struggles to explain why
March 27, 2024
© 2024 All Rights reserved | Powered by Vraltrendingcontent
  • About Us
  • Contact US
  • Disclaimer
  • Privacy Policy
  • Terms of Service
Welcome Back!

Sign in to your account

Lost your password?