Venture Smart Financial Holdings Ltd (VSFG), a Hong Kong-based financial services firm, intends to launch a spot Ethereum exchange-traded fund (ETF) after potentially launching its spot Bitcoin ETF in the first quarter of the year.
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The official application for the Bitcoin ETF is in its final stages and expects to be filed with the Hong Kong Securities and Futures Commission in the coming weeks, VSFG chairman Lawrence Chu has said.
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According to him, in Hong Kong, a filing undergoes rigorous regulatory discussions before it is accepted. "Submission is almost like when you're 95% there," he said.
The firm's intention is to launch a spot Ethereum ETF in the second quarter of 2024, provided its spot Bitcoin ETF is approved and listed in the first quarter.