According to PANews, several top fund companies are leveraging their Hong Kong subsidiaries to strategically plan for Bitcoin ETF. This information was gathered during an interview with the Securities Times. The organizations applying for and strategizing Bitcoin ETF include Harvest Fund's Hong Kong subsidiary and Southern Fund's Hong Kong subsidiary. Among them, Harvest Fund has applied to the Hong Kong Securities Regulatory Commission for a Bitcoin spot ETF product. In addition, Huaxia Fund's Hong Kong subsidiary has recently collaborated with a Bitcoin ETF custodian institution in Hong Kong.
Industry insiders predict that the relevant Bitcoin ETF applications could potentially be implemented as early as the second quarter of this year. Market participants speculate that if the leading public funds apply for Bitcoin ETF products through their subsidiaries in Hong Kong, it could further demonstrate their operational maturity and market development potential. This could lead to more leading public funds leveraging their Hong Kong subsidiaries to strategize Bitcoin business. As of now, approximately 30 public funds have established subsidiaries in Hong Kong.
