The Hong Kong regulator approved the management of Harvest International and China Asset Management “Coins Circles”. Thus, they finally opened the doors for a spot Bitcoin ETF. Expectations are for a spot Bitcoin ETF to be launched by the end of April. Experts also expect Hong Kong’s spot Bitcoin ETF market to reach approximately $ 2 billion.

Approval for two giant companies: Green light for Spot Bitcoin ETF!

Cryptocoin.comThe US SEC’s approval of spot Bitcoin ETFs was an important threshold. After that, other countries started to follow suit. The Hong Kong Securities and Futures Commission approved Harvest International Asset Management Company and China Asset Management (Hong Kong) Co. Ltd. for “coin circle” asset management qualifications. This move paves the way for the launch of spot Bitcoin ETF products, which is expected around the end of April.

The updated list of virtual asset management fund companies on the official website of the Hong Kong Securities and Futures Commission reveals the inclusion of Harvest International and China Asset Management, marking their entry into the virtual asset industry in Hong Kong. These well-known public fund companies now have the necessary qualifications to promote “Coin Circles” related money fund products to the public, including spot Bitcoin ETFs.

Bitcoin’s door is now open for investors!

Harvest International previously submitted a spot Bitcoin ETF proposal. The company had been waiting for this approval for about three months. With this green light, the regulator has opened the door for individual investors. Thus, they will soon have the opportunity to invest in Bitcoin-related products through the Hong Kong Stock Exchange.

Sources close to Tencent Finance’s “First Line” note that the Hong Kong Securities and Futures Commission’s quick update of its list of virtual asset management funds on April 10 was in preparation for the announcement of Hong Kong’s opening batch of spot Bitcoin ETFs on April 15.

Spot Bitcoin ETF market will be lower than the US, but…

Harvest International and China Asset Management are leading the way when it comes to Bitcoin ETFs. However, there are other contenders such as Boshi Fund and Value Partners Financial. However, these are not yet on the updated list due to regulatory compliance issues. Hong Kong’s spot Bitcoin ETF market will probably not initially reach the scale of its US counterpart. However, industry analysts expect significant interest from investors. Moreover, analysts estimate a potential scale of around $2 billion for Harvest International’s offering.