Several China-based asset management firms have expressed interest in offering spot Bitcoin exchange-traded funds in Hong Kong.
As reported by Chinese state-owned newspaper Securities Times, Harvest Fund and Southern Fund, which manage assets totaling more than $200 billion, have already filed applications or are looking to offer these ETFs in the administrative region.
This is due to strict regulations on crypto trading and mining in mainland China, which limit the ability of asset managers to offer these products.
The latest developments come after it was reported that Harvest Fund's Hong Kong affiliates applied for a spot Bitcoin ETF in January.
Southern Fund, which currently offers Bitcoin and Ethereum futures ETFs in Hong Kong, is also mulling the possibility of launching a spot Bitcoin ETF.