LAST MINUTE. Unexpected Bitcoin Spot ETF Move From China's Two Big Companies: It's Official!

The Hong Kong branches of Harvest Fund and Southern Fund, two China-based asset management firms, have applied to offer spot Bitcoin ETFs in the Hong Kong region, which is part of China.
According to a report by Bitcoin Magazine based on the state-owned Securities Times, both firms filed for the venture today, with combined assets of over $200 billion.
Due to strict restrictions on cryptocurrency trading and mining in mainland China, asset managers are unable to offer ETFs here. This development follows earlier rumors, with the Hong Kong branch of the Harvest Fund filing an application for a spot Bitcoin ETF in January.
Crypto investors are eagerly awaiting the launch of spot Bitcoin ETFs in the Hong Kong market. Last year, the Hong Kong Monetary Authority and the Securities and Futures Commission announced that they would be accepting applications for crypto-based ETFs. The launch of these funds will provide Hong Kong investors with exposure to Bitcoin.
The Hong Kong branch of Harvest Fund Management took a significant step in the region's cryptocurrency investment landscape by launching a futures crypto ETF in 2022.