Venture Smart Financial seeks to launch Hong Kong’s first spot Bitcoin ETF By Investing.com
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HONG KONG – Venture Smart Financial Holdings Ltd. has taken a significant step in the cryptocurrency market by filing for Hong Kong’s first spot exchange-traded fund (ETF). The company aims to attract $500 million in assets under management (AUM) by the end of 2024, aligning with the new guidelines issued by the Securities and Futures Commission (SFC) in December.
The move comes as the SFC has opened the door for cryptocurrency ETFs, with three futures-based crypto ETFs already operating in Hong Kong, collectively managing $50 million in AUM. The announcement indicates a growing interest in cryptocurrency investment products in the region, with Samsung (KS:) Asset Management also exploring the possibility of offering a spot ETF.
As of now, there have been no further updates from the regulatory body since the release of the new guidelines.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
HONG KONG – Venture Smart Financial Holdings Ltd. has taken a significant step in the cryptocurrency market by filing for Hong Kong’s first spot exchange-traded fund (ETF). The company aims to attract $500 million in assets under management (AUM) by the end of 2024, aligning with the new guidelines issued by the Securities and Futures Commission (SFC) in December.
The move comes as the SFC has opened the door for cryptocurrency ETFs, with three futures-based crypto ETFs already operating in Hong Kong, collectively managing $50 million in AUM. The announcement indicates a growing interest in cryptocurrency investment products in the region, with Samsung (KS:) Asset Management also exploring the possibility of offering a spot ETF.
As of now, there have been no further updates from the regulatory body since the release of the new guidelines.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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