Maindivider Newsdivider Hong Kong company VSFG plans to launch the region's first spot bitcoin ETF

Hong Kong company VSFG plans to launch the region's first spot bitcoin ETF

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calendar 22-01-2024

Hong Kong-based company VSFG plans to launch the first spot Bitcoin ETF in the region. Venture Smart Financial Holdings, a financial company from Hong Kong, has announced its intention to submit a spot application for the creation of a Bitcoin ETF. According to Bloomberg, this move is aimed at launching the first spot Bitcoin exchange-traded fund (ETF) in the region.

The company claims that Hong Kong has significant market potential for a spot Bitcoin ETF, and this step is a response to the growing demand for cryptocurrency investments in the region. In December of last year, the Hong Kong regulator published guidelines for the approval of spot crypto funds, giving the company the green light for further actions.

Expressing optimism about the success of the project, representatives of VSFG stated that they are confident in the ability of the new Bitcoin ETF to meet the increasing interest in cryptocurrency investments among investors in the region.

We look forward to further updates from the company and the response of the Securities and Futures Commission of Hong Kong (SFC) to their application.

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