Summary
Chinese investment giants Harvest Fund and China Southern Fund are pursuing spot Bitcoin exchange-traded funds in Hong Kong, coinciding with decreasing interest in US spot Bitcoin ETFs. Applications could be approved as early as Q2 2024, potentially signaling a softening of China’s crypto stance. However, questions remain about the long-term sustainability of Hong Kong’s regulatory environment due to its autonomy agreement with China expiring in 2047.
Key Points
1. Two of China’s investment giants, Harvest Fund and China Southern Fund, are reportedly pursuing spot Bitcoin exchange-traded funds (ETFs) in Hong Kong.
2. This move coincides with decreasing investor interest in US spot Bitcoin ETFs, as evidenced by decelerating weekly inflows.
3. Chinese Investment Giants Set Sights on Hong Kong Bitcoin ETFs.