According to the South China Morning Post, Harvest International CEO Han Tongli said when attending the Bitcoin Asia Summit on Thursday (9th) that as long as "everything goes well" in the next two years, Harvest "does not rule out" applying for direct investment. Crypto token ETFs are included in the interconnection scheme connecting mainland China and Hong Kong exchanges.

ETF Connect, launched in May 2022, will allow mainland Chinese investors to invest in a selection of Hong Kong-listed ETFs and is part of the larger Stock Connect scheme (launched in 2014 ), connecting the Hong Kong and Shanghai stock exchanges for the first time.

Hong Kong's six Bitcoin and Ethereum spot ETFs were listed for trading on April 30 this year. Issuers include China Asset Management (Hong Kong), Harvest International, Boshi Fund (International) and HashKey. The inclusion of cryptocurrency ETFs in the ETF Connect scheme could be a significant boost to market confidence and bring a large new investor base to these new ETF products.

Some have questioned whether inclusion of these ETFs would be allowed given the Chinese government’s hostility to cryptocurrencies. The Hong Kong Bitcoin and Ethereum futures ETFs were launched in 2022 and have not yet been included in the Hong Kong Stock Connect.

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