Chinese Asset Managers Get Green Light to Offer Spot Bitcoin, Ether ETFs in Hong Kong

Three Chinese asset managers have received initial approval to offer exchange-traded funds (ETFs) backed by spot virtual assets such as Bitcoin in Hong Kong, as part of the city’s ongoing efforts to turn itself into a global cryptocurrency hub.

Hong Kong’s Securities and Futures Commission (SFC) gave the go-ahead in principle to Harvest Global Investments Ltd., Bosera Asset Management (International) Co. Ltd. and China Asset Management (Hong Kong) Ltd., according to separate announcements released Monday by the trio. They are all Hong Kong subsidiaries of major Chinese mainland mutual fund companies.