a Harvest fund managementone of the largest asset managers in the world China With $222 billion in assets, it is preparing to launch a Bitcoin exchange-traded fund (ETF) in Hong Kong.
According to information from Tencent News, the manager has sent its application for the country’s first Bitcoin ETF to the Hong Kong Securities and Futures Commission, with plans to launch after Lunar New Year on February 10.
The request was made two weeks after the US Securities and Exchange Commission (SEC) approved 11 Bitcoin ETFs. The Chinese newspaper stated that the Hong Kong CVM began to accelerate the process after the approval of ETFs in the United States.
The move coincides with growing interest from about a dozen fund companies in potential spot cryptocurrency ETFs in Hong Kong, including HashKey, a well-known cryptocurrency exchange.
Moreover, VSFG, also based in Hong Kong, has announced plans to launch its own spot Bitcoin ETF in the first quarter of this year, according to information from Bloomberg.
Harvest fund management
Harvest Fund Management is one of the largest and most renowned asset managers in China. Founded in 1999, the company specializes in a range of financial services including asset management, fund management and investments across asset classes.
Harvest is known for its focus on innovation and global expansion, operating in both the Chinese domestic and international markets.
The company offers a wide range of financial products, such as equity funds, fixed income funds, asset management products and investment solutions for institutional and individual clients.
The manager has also been actively involved in the financial technology sector, including investments in cryptocurrencies and blockchain, reflecting his interest in staying at the forefront of emerging trends in the financial sector.
In addition to its headquarters in China, Harvest Fund Management has built a presence in several international markets, including a branch in Hong Kong. This allows the company to access a broader range of investment opportunities and offer its services to a more diverse spectrum of clients around the world.
Stable coins
At the same time, Hong Kong is stepping up efforts to establish regulations for stablecoins. Companies such as Harvest Global Investments, RD Technologies and VSFG have expressed interest in testing related to stablecoins.
The companies are in discussions with the Hong Kong Monetary Authority about possible stablecoin trials, with the aim of exploring the potential of programmable digital money while meeting regulatory requirements.
The move comes after the HKMA said in December that stablecoin issuers would need a license tied to the value of fiat currencies in Hong Kong.
Hong Kong’s progress in the cryptocurrency and ETF market could signal a move by China toward integrating these emerging technologies into the traditional financial system, marking a new chapter for financial innovation in the region.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
