Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter

Bloomberg01-19

VSFG plans to apply to Hong Kong’s securities regulatorCity is open to crypto ETFs under a digital-asset pivotA Hong Kong financial services company aims to start an exchange-traded fund investing ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1100947909?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-01-19 16:35","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1100947909","market":"hk","top_or_hot":-1,"title":"Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter","media":"Bloomberg","content":"<div>\n<p>VSFG plans to apply to Hong Kong’s securities regulatorCity is open to crypto ETFs under a digital-asset pivotA Hong Kong financial services company aims to start an exchange-traded fund investing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-01-19/hong-kong-firm-targets-spot-bitcoin-btc-etf-launch-in-first-quarter?srnd=markets-vp\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-19 16:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-01-19/hong-kong-firm-targets-spot-bitcoin-btc-etf-launch-in-first-quarter?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>VSFG plans to apply to Hong Kong’s securities regulatorCity is open to crypto ETFs under a digital-asset pivotA Hong Kong financial services company aims to start an exchange-traded fund investing ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-01-19/hong-kong-firm-targets-spot-bitcoin-btc-etf-launch-in-first-quarter?srnd=markets-vp\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAFG","symbol_name":"PACER US SMALL CAP CASH COWS GROWTH LEADERS ETF","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-01-19/hong-kong-firm-targets-spot-bitcoin-btc-etf-launch-in-first-quarter?srnd=markets-vp","article_id":"1100947909","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1100947909","pubTimestamp":1705653300,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"VSFG plans to apply to Hong Kong’s securities regulatorCity is open to crypto ETFs under a digital-asset pivotA Hong Kong financial services company aims to start an exchange-traded fund investing dir","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CAFG":"PACER US SMALL CAP CASH COWS GROWTH LEADERS ETF","GSIB":"THEMES GLOBAL SYSTEMICALLY IMPORTANT BANKS ETF","MCHS":"MATTHEWS CHINA DISCOVERY ACTIVE ETF","MEMS":"MATTHEWS EMERGING MARKETS DISCOVERY ACTIVE ETF","VCRB":"VANGUARD CORE BOND ETF","03068":"FA南方以太币","BDGS":"BRIDGES CAPITAL TACTICAL ETF","DYTA":"SGI DYNAMIC TACTICAL ETF","LZRD":"Parabla Innovation Etf","ETEC":"ISHARES BREAKTHROUGH ENVIRONMENTAL SOLUTIONS ETF","IBOT":"VanEck Robotics ETF","SFLO":"VICTORYSHARES SMALL CAP FREE CASH FLOW ETF","BSJV":"InvescoBulletShares2031 High Yield Corporate Bond ETF","03135":"FA三星比特币","JHMA":"John Hancock Multifactor Materials ETF","FDCF":"Fidelity Disruptive Communications ETF","EWJE":"iShares MSCI Japan Equal Weighted ETF","AMDS":"GRANITESHARES 1X SHORT AMD DAILY ETF","VBB":"Valkyrie Balance Sheet Opportunities ETF","FINE":"THEMES EUROPEAN LUXURY ETF","SKRE":"TUTTLE CAPITAL DAILY 2X INVERSE REGIONAL BANKS ETF","JHME":"John Hancock Multifactor Energy ETF","TSLR":"GraniteShares 2x Long TSLA Daily ETF","ITDD":"ISHARES LIFEPATH TARGET DATE 2040 ETF","FGDL":"Franklin Responsibly Sourced Gold ETF","JTEK":"JPMorgan U.S. Tech Leaders ETF","GOVI":"Invesco Equal Weight 0-30 Year Treasury ETF","JHMI":"John Hancock Multifactor Industrials ETF","FDTX":"Fidelity Disruptive Technology ETF","KNGZ":"First Trust S&P 500 Diversified Dividend Aristocrats ETF","EVUS":"ISHARES ESG AWARE MSCI USA VALUE ETF","TXSS":"Texas Small Cap Equity Index ETF","BRTR":"BLACKROCK TOTAL RETURN ETF","XFIX":"F/m Opportunistic Income ETF","BSCX":"InvescoBulletShares2033 Corporate Bond ETF","JHMS":"John Hancock Multifactor Consumer Staples ETF","SPQQ":"Siren Large Cap Blend Index ETF","COWS":"Amplify Cash Flow Dividend Leaders ETF","TMET":"Ishares Transition-Enabling Metals Etf","DWPP":"First Trust Dorsey Wright Peoples Portfolio ETF","DYFI":"IDX Dynamic Fixed Income ETF","CLOD":"THEMES CLOUD COMPUTING ETF","PTEC":"Global X PropTech ETF","HCOW":"Amplify Cash Flow High Income Etf","WABF":"Western Asset Bond ETF","LGRO":"ALPS Level Four Large Cap Growth Active ETF","FBOT":"Fidelity Disruptive Automation ETF","FMED":"Fidelity Disruptive Medicine ETF","03066":"FA南方比特币","JIVE":"JPMorgan International Value ETF"},"translate_title":"香港公司计划在第一季度推出现货比特币交易所交易基金","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03068":1.1,"03135":1.1,"03066":1.1,"ITDD":1,"XFIX":1,"JHMA":1,"JHME":1,"JHMI":1,"JHMS":1,"JIVE":1,"JTEK":1,"KNGZ":1,"LGRO":1,"LZRD":1,"MCHS":1,"MEMS":1,"PTEC":1,"SFLO":1,"SKRE":1,"SPQQ":1,"TMET":1,"TSLR":1,"TXSS":1,"VBB":1,"VCRB":1,"WABF":1,"ETEC":1,"AMDS":1,"BDGS":1,"BRTR":1,"BSCX":1,"BSJV":1,"CAFG":1,"CLOD":1,"COWS":1,"DWPP":1,"DYFI":1,"DYTA":1,"IBOT":1,"EVUS":1,"EWJE":1,"FBOT":1,"FDCF":1,"FDTX":1,"FGDL":1,"FINE":1,"FMED":1,"GOVI":1,"GSIB":1,"HCOW":1},"content_text":"VSFG plans to apply to Hong Kong’s securities regulatorCity is open to crypto ETFs under a digital-asset pivotA Hong Kong financial services company aims to start an exchange-traded fund investing directly in Bitcoin this quarter as the city pushes ahead with efforts to develop a digital-asset hub.Venture Smart Financial Holdings Ltd. said it plans to lodge an application with the Securities and Futures Commission to start the ETF. The regulator last month issued guidelines for spot crypto fund approvals for the first time.“It’s a market that has huge potential,” said Brian Chan, group head of investment and product at the company, also known as VSFG. “Our goal is $500 million in assets under management by the end of this year.”Spot crypto ETFs are in the spotlight after a slew of much-hyped Bitcoin funds went live in the US, including from issuers such as BlackRock Inc. and Fidelity Investments. The largest digital asset more than doubled last year in anticipation of the US products but has slipped about 10% since the vehicles began trading on Jan. 11, as traders asses how much cash they attract.Hong Kong allows futures-based crypto ETFs and three have listed so far: CSOP Bitcoin Futures, CSOP Ether Futures and Samsung Bitcoin Futures. They have relatively modest combined assets of about $50 million.Samsung Asset Management said it wouldn’t “eliminate the possibility of exploring to launch a spot ETF.” CSOP Asset Management didn’t respond to a request for comment.The SFC said it didn’t have any comment beyond the guidelines it published in December. If the history of traditional ETFs is any guide, the approval process for such products can take weeks to months.VSFG offers traditional and digital wealth management services and is among Hong Kong’s first SFC-approved virtual asset managers, according to its website.Aegis Custody, a digital-asset custodian, is in talks with four asset managers about listing spot crypto products in Hong Kong, the company’s Chief Executive Officer Serra Wei said. The city’s regulatory requirements are likely to lead issuers to charge higher fees compared with the low management levies at many of the new US spot Bitcoin ETFs, Wei said.Hong Kong’s FrameworkHong Kong rolled out a dedicated virtual-asset regulatory framework in June, part of an effort to restore its luster as a cutting-edge financial center. The rules seek to woo companies but also focus on investor protection. Retail investors can trade major tokens like Bitcoin and Ether on licensed exchanges.While Hong Kong offers a local market and a conduit to Chinese wealth, it remains unclear just how much crypto activity the city can really support.“CSOP Asset Management could lead the race in the Asia Pacific” for spot digital-asset ETFs, said Bloomberg Intelligence ETF analyst Rebecca Sin. She pointed out CSOP products account for the bulk of the funds under management in the current futures-based digital-asset ETFs in Hong Kong.The start of the US funds has ruffled some Asian jurisdictions, particularly South Korea, which remains well-known for periodic virtual-asset manias. South Korea’s presidential office asked the nation’s financial regulator to refrain from taking a specific stance on spot Bitcoin ETFs, amid confusion over whether brokers would break local laws if they allow investors to trade the products.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1100947909"}