The Hong Kong division of Chinese asset manager Harvest Fund Management has just filed with the Securities and Futures Commission (SFC), the local regulator, an application to launch a spot Bitcoin ETF.
As reported by local publication Tencent News, the regulator could approve the application after the end of the Lunar New Year, which will take place on February 10.
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The SFC could follow the same tactics as the US Securities and Exchange Commission (SEC), approving several applications at once. However, at the moment, there are no others.
The regulator could allow the redemption of exchange-traded fund shares in crypto, a stance that differs from that of the SEC, which approved this process in cash only.