Hong Kong-headquartered Value Partners has joined hands with a virtual asset manager to explore the launch of a spot bitcoin ETF in the city.
Value Partners and Venture Smart Financial Holdings (VSFG) have signed a memorandum of understanding to bring virtual assets in traditional vehicles to both retail and institutional investors in Hong Kong, according to a statement. This includes explorations to launch a spot bitcoin ETF.
«The plan to launch a spot bitcoin ETF marks our first collaborative initiative, offering Hong Kong investors exposure to the world’s largest digital asset, all while enjoying the convenience and efficiency of the ETF vehicle,» said Value Partners CEO June Wong.
Approved Virtual Asset Manager
VSFG is the first virtual asset manager approved by Hong Kong’s Securities and Futures Commission. In addition to its planned spot bitcoin ETF, it has related experience through the launch of the city's first regulated bitcoin fund in June 2020.
«We have seen a rapid evolution and great potential of the global virtual asset landscape over the past few years, and Hong Kong is no exception,» added VSFG chairman Lawrence Chu.
