Hong Kong’s Securities and Futures Commission (SFC) has made a significant update to its list of approved virtual asset management funds, adding Harvest International Asset Management and China Asset Management (Hong Kong) Co., Ltd. This move allows these funds to issue currency-related products, such as spot Bitcoin exchange-traded funds (ETFs), through the Hong Kong Stock Exchange.
According to Tencent, a local news outlet, the SFC updated the list on April 10 in preparation for announcing Hong Kong’s first batch of spot Bitcoin ETFs by April 15. The Hong Kong Exchange will then take approximately two weeks to prepare for product listing and other matters.
While Harvest International and China Asset Management have been approved, Boshi Fund and Value Partners Financial have also submitted their applications for the ETF but have not been added to the list due to regulatory requirements.
This update opens the door for retail investors to access crypto investments through regulated channels, marking an important moment for Hong Kong’s financial evolution and its approach to virtual asset management. The approval of spot Bitcoin ETFs in Hong Kong follows the trend set by the US SEC earlier this year, showcasing a global movement towards integrating crypto into mainstream financial systems.
