Top Chinese mutual funds exploring Bitcoin ETFs via Hong Kong units

Top Chinese mutual funds exploring Bitcoin ETFs via Hong Kong units
фото показано с : cryptoslate.com

2024-4-9 21:30

Leading Chinese mutual funds are actively exploring Bitcoin exchange-traded funds (ETFs) through their subsidiaries in Hong Kong, with adoption set to kick off within the second quarter once regulatory approval is secured, local media reported on April 8.

The move marks a significant pivot toward crypto investment among firms in the region, which have avoided digital assets for years after China’s ban on Bitcoin mining and crypto in 2021.

Shifting stance

Local media reported that Jiashi Fund and Southern Fund subsidiaries are at the forefront of adopting Bitcoin ETFs and have already filed regulatory applications.

Jiashi Fund has applied to launch a Bitcoin spot ETF, while Huaxia Fund’s subsidiary recently partnered with Bitcoin ETF custodian HashKey. Both firms are awaiting regulatory approval to proceed further.

By leveraging their Hong Kong branches, top mutual funds are looking to expand their investment portfolios into digital assets amid the shifting stance in the city-state. The firms are reportedly applying for Bitcoin licenses in Hong Kong to tap into the regulatory framework offered by the jurisdiction.

Industry insiders suggest that spot Bitcoin ETFs could launch by the second quarter, with Hong Kong positioned to facilitate the creation and redemption of these products for companies domiciled in China.

Southern Fund’s subsidiary made headlines in December 2022 by launching Asia’s first crypto ETFs, positioning the Hong Kong stock market as a direct provider of Bitcoin and Ethereum futures ETFs.

Bitcoin’s strong performance

According to the report, Bitcoin ETFs’ performance and market presence have encouraged more mutual funds to enter the emerging field. For instance, Southern Fund’s futures Bitcoin ETF, which was launched at the end of 2022, has demonstrated impressive gains with a 134% increase in value in 2023.

Regulatory officials in Hong Kong have expressed a commitment to supporting responsible and stable development of the digital assets industry. The region has become a hub for over 220 Web 3 companies.

The recent surge in Bitcoin’s price to new highs boosts the confidence of fund companies in exploring spot ETFs, with the crypto’s market capitalization surpassing $1.3 trillion.

The post Top Chinese mutual funds exploring Bitcoin ETFs via Hong Kong units appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

World Trade Funds (XWT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 XWT

funds hong kong etfs bitcoin mutual exploring

Источник: cryptoslate.com

funds hong → Результатов: 97


Фото:

Hong Kong Security Crackdown Leads to Record Capital Outflows— Residents Reportedly Used Cryptocurrencies to Move Funds

The Canadian anti-money laundering agency, Fintrac, says it recorded official capital inflows originating from Hong Kong that totaled more than $34 billion in the past year. The outflows, which are the highest since 2012 when the earliest Fintrac records are available, “are the first evidence of a significant flight of capital overseas from the Asian […]

2021-3-31 15:30


СМИ: Huobi запустит три криптовалютных фонда в Гонконге

Биржа Huobi через зарегистрированное в Гонконге подразделение Huobi Technology Holdings планирует запустить три криптовалютных фонда. Об этом сообщил журналист Колин Ву. Breaking: China's largest exchange Huobi has obtained a Hong Kong cryptocurrency fund license, and it will launch Bitcoin, Ethereum and multi-strategy funds on March 3.

2021-3-5 11:28


Фото:

3 People Arrested in Hong Kong for Cheating Bitcoin ATMs

The authorities in Hong Kong have arrested three people in connection with robberies from six bitcoin ATMs after two cryptocurrency exchanges reported funds being illegally withdrawn from them. 6 Bitcoin ATMs Targeted The Hong Kong Police Force’s cybersecurity and technology crime bureau has arrested three people after two cryptocurrency exchanges filed reports that funds had […] The post 3 People Arrested in Hong Kong for Cheating Bitcoin ATMs appeared first on Bitcoin News.

2020-8-17 19:30


BitPay in troubled waters once again as Hong Kong Free Press alleges suspension of fund transfers without notice

US-based cryptocurrency payment processor, BitPay, has time and again gotten itself into troubled waters over several issues. In what is the latest salvo against the firm, Tom Grundy, Founder and Chief Editor of the media outlet Hong Kong Free Press, has alleged and highlighted BitPay’s incompetency to process funds, specifically donations that it has been […] The post BitPay in troubled waters once again as Hong Kong Free Press alleges suspension of fund transfers without notice appeared first on AMBCrypto.

2019-9-11 13:30


Фото:

Venezuela is buying Bitcoin with airport taxes to smuggle in US dollars, report

Venezuela appears to be leveraging cryptocurrencies as part of a larger effort to bypass US sanctions. According to an investigation by Spanish newspaper ABC, President Nicolas Maduro and his administration are using a digital wallet app called Jetman Pay to convert tax revenue from one of the country’s main airports into Bitcoin and other cryptocurrencies.

2019-7-26 14:02


дальше еще 48 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Dapps’ revenue hits $164M in October amid growing adoption

According to a report by Binance Research, decentralized applications (dApps) represented 12 out of 15 protocols with the most significant revenues in October, amounting to $164 million. This suggests growing blockchain adoption, fueled by trading bots and decentralized exchanges.

Maximize Your Rewards: The Machines Arena Season 2 Airdrop Guide

Discover how to make the most of The Machines Arena Season 2 Airdrop. Earn points, unlock in-game items, and climb the leaderboard for exciting rewards. The post Maximize Your Rewards: The Machines Arena Season 2 Airdrop Guide appeared first on NFT News Today.

Potential Impacts of a Trump Presidency on the Web3 Gaming Industry

Discover how Trump's changing stance on Web3 could influence the world of gaming. Learn about the potential impact on digital ownership and in-game economies. The post Potential Impacts of a Trump Presidency on the Web3 Gaming Industry appeared first on NFT News Today.

Bitcoin as a US strategic reserve asset could create ‘monetary stability’ – BPI

Bitcoin’s maturity as a decentralized digital asset has spurred discussions on its role within national reserves, drawing interest from US policymakers. Bitcoin’s evolution from an experimental asset to a recognized financial instrument provides new strategic avenues for economic stability, geopolitical resilience, and energy policy.