Hong Kong Gets Spot-Bitcoin ETF Application, Stablecoin Interest From China’s Harvest Global: Reports
Harvest Global Investments, a Chinese asset-management company, has applied for a spot-bitcoin exchange-traded fund (ETF) with Hong Kong's Securities and Futures Commission (SFC). The company is also discussing the city's stablecoin sandbox with regulators. This follows the approval of spot-bitcoin ETFs for nearly a dozen applicants in the U.S. in December 2023. Another Hong Kong firm, Venture Smart Financial Holdings, plans to file a spot bitcoin ETF application and aims to start trading in the first quarter. Venture Smart Financial, Harvest, and RD Technologies are reportedly in talks with the Hong Kong Monetary Authority (HKMA) about its planned stablecoin sandbox. The HKMA is preparing to launch the sandbox and will announce details soon. Hong Kong regulators have proposed supervising stablecoin issuers through a licensing regime and are seeking feedback by the end of February.
