🚀🚀 Bitcoin enthusiasts, hold on to your hats! Chinese mainland-based equity funds are reportedly applying to launch spot Bitcoin ETFs via their Hong Kong subsidiaries. This comes amid a crypto price surge and Hong Kong's push to become a global fintech hub. 🌐🌐

Among the applicants is Harvest Fund Management's Hong Kong branch, which launched Asia's first futures crypto ETFs in December 2022. They've been awaiting approval from Hong Kong's Securities & Futures Commission (SFC) since January. 📈📈

Meanwhile, China Asset Management's Hong Kong division is teaming up with licensed crypto exchange HashKey to promote Web 3.0 initiatives in the asset management industry. 🤝🤝

Although there's no definitive timeline for spot Bitcoin ETFs in Asia, insiders suggest applications could materialize as early as this quarter. ⏰⏰

Hong Kong's crypto sector is booming! Bitcoin value soared to around $72,000 recently, nearly doubling from its December value. The CSOP Bitcoin Futures ETF, Hong Kong's largest, saw a five-fold increase in assets under management, reaching over $100 million. 💰💰

Hong Kong is determined to become a leading global crypto hub. The city plans to regulate OTC trading of virtual assets and enable intermediary institutions to offer various virtual asset services, including futures and ETF trading. 🏦🏦

So, keep your eyes peeled, Bitcoin believers! Exciting times are ahead! 🎉🎉