Hong Kong subsidiaries of Chinese asset managers apply for spot bitcoin ETFs
The Hong Kong subsidiaries of two China-based asset management firms have submitted applications to offer spot bitcoin exchange-traded funds in the administrative region. Harvest Fund and Southern Fund, both located in Hong Kong and each managing assets worth more than $200 billion, filed requests on Monday to offer the funds, Bitcoin Magazine reported, citing the state-owned Securities Times. Due to severe restrictions on cryptocurrency trading and mining, asset managers cannot offer ETFs in mainland China.
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