Chinese Asset Managers Enter Bitcoin ETF Market via Hong Kong Subsidiaries

📆 4/9/2024 1:55 AM
📰 BitcoinMagazine

⏱ Reading Time:
14 sec. here
10 min. at publisher
📊 Quality Score:
News: 37%
Publisher: 53%

Finance News

China,Asset Managers,Bitcoin ETF

Some of China's biggest asset managers, including Harvest Fund and Southern Fund, are using their Hong Kong subsidiaries to enter the Bitcoin ETF market. They have submitted applications and are awaiting regulatory approval, reflecting growing institutional interest in Bitcoin despite China's previous hostility towards it. Approval of Bitcoin ETF products from influential institutions could validate Bitcoin in the eyes of Chinese regulators and investors.

Some of China's biggest asset managers are using Hong Kong subsidiaries to enter the Bitcoin ETF market, according to recent reports.

Harvest Fund manages over $230 billion in total assets, while Southern Fund oversees over $280 billion. Approval of Bitcoin ETF products from such influential institutions could significantly validate Bitcoin in the eyes of both Chinese regulators and investors.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong finance firm VSFG aims to launch spot bitcoin ETF as early as MayThe firm said it has filed its spot bitcoin ETF application with the SFC and is 'in active discussion' with the Hong Kong regulator.
Source: TheBlock__ - 🏆 464. / 53 Read more »