🇨🇳😱Chinese giant companies are also coming for Bitcoin: “Applications have been made”
it is stated that major fund companies in #China which have banned all activities related to Bitcoin and cryptocurrencies in 2021, want to launch #BTC spot ETF products through Hong Kong. According to Chinese media, some applications have already been made on the subject…
It is stated that some major fund companies in China, where Bitcoin and cryptocurrencies are completely banned, also want to participate in the Bitcoin spot ETF fury. According to a report from the Chinese media Securities Times, institutions including large companies such as Harvest Fund Management see Hong Kong as a tool in this sense.
In the news, it was stated that many applications have already been submitted, while it was stated that some companies are continuing their feasibility studies. Due to the fact that cryptocurrencies are banned in China, applications are made through the Hong Kong subsidiaries of the companies.
It also said that Harvest Fund Management, which manages $ 120 billion, filed its application with the Hong Kong Securities Commission in January.
It was also stated that China Asset Management, one of the largest asset management companies in China, has also established a partnership with Hashkey, one of the regulated stock exchanges in Hong Kong, on Web3 investments and incentives.
Could it be the reason for the morning's rise?
After this news started spreading in the Far East region, it is also noteworthy that Bitcoin passed the 70 thousand dollar level within minutes.
