VSFG, a Hong Kong-based firm, set to unveil inaugural spot Bitcoin ETF in historic move

Hong Kong-based Venture Smart Financial Holdings Limited is set to launch a spot Bitcoin ETF fund in the first quarter of the year, with a target of $500 million in assets. If approved by the SEC, this move could position Hong Kong as the second-largest global powerhouse for Bitcoin ETF trading. The excitement surrounding spot Bitcoin ETFs has become a worldwide phenomenon, with countries closely watching and investors eagerly awaiting a positive outcome. Hong Kong, which already embraces futures-based crypto ETFs, has accumulated $50 million in assets. Samsung Asset Management is also considering the launch of a spot ETF, while Aegis Custody is in discussions with four asset managers about listing spot crypto products in Hong Kong. However, the city’s regulatory requirements may result in higher fees for issuers compared to the low management levies of US spot Bitcoin ETFs. Despite this, approximately ten fund companies in Hong Kong have initiated discussions about launching spot crypto ETFs, indicating the city’s growing appetite for this financial innovation.