Chinese Asset Manager and Hong Kong Firms Pursue Spot Bitcoin ETFs and Stablecoin Projects
• Harvest Global Investments, a major Chinese asset manager, applied for a spot bitcoin ETF license in Hong Kong
• Harvest Global is also in talks with Hong Kong regulators about participating in the city’s stablecoin sandbox
• This comes after Hong Kong said it would consider spot crypto ETF applications in December 2022
• Venture Smart Financial Holdings plans to apply for a spot bitcoin ETF and launch trading in Q1 2023
• Multiple entities including Harvest Global and Venture Smart are in discussions about Hong Kong’s upcoming stablecoin sandbox overseen by the central bank