Good news is coming from China regarding Bitcoin ETFs.
In fact, it has been announced that one of the leading asset management companies in Asia, Value Partners Group, plans to launch a new Bitcoin ETF on the Hong Kong Stock Exchange.
Summary
Bitcoin ETFs in Asia: the latest news
Currently, there is no known existence of any major Bitcoin ETF listed on any Asian exchange.
These products are still prohibited on Chinese stock exchanges, while there don’t seem to be any in Tokyo or Singapore.
After the success achieved in the USA, it is very likely that they will also be launched on Asian stock exchanges, starting from Hong Kong.
The Hong Kong Stock Exchange is indeed one of the most international in all of Asia, and it is also one of the most attentive to technological innovations.
With the fact that in China it is technically still prohibited to buy and sell BTC for private citizens, the listing of an ETF could be a big news and a great opportunity.
Hong Kong is indeed part of China in all respects, even though it is a special territory, and the possible presence of Bitcoin ETFs in Hong Kong would allow all Chinese people to take a position on the price of BTC.
Value Partners Group
Value Partners is an independent asset management company based in Hong Kong, founded in 1993 when Hong Kong was still a British colony.
However, it also operates in Shanghai and Shenzhen, in China, as well as in Kuala Lumpur, Singapore, and London
It offers investment services and products, and is the first publicly traded asset management company on the main board of HKEX (the Hong Kong Stock Exchange) with the ticker 0806.HK, since 2007.
Its services cover equities, fixed income, alternative strategies, multi-asset, and also ETFs.
The project to issue an ETF on Bitcoin on the Hong Kong Stock Exchange is being carried out in collaboration with VSFG (Venture Smart Financial Holdings Limited), which is the first virtual asset manager approved by the SFC (Securities and Futures Commission) of Hong Kong.
Value Partners’ ETF
The official joint statement by VSFG and Value Partners Group states that the two companies have entered into a partnership to explore the idea of launching a Bitcoin spot ETF on the Hong Kong Stock Exchange, in order to be the very first on the Asian market to launch such a product.
Technically, the partnership was signed by a subsidiary of Value Partners Group, namely Value Partners Hong Kong Limited (Value Partners HK) and VSFG. Both are companies based in Hong Kong.
And technically, this partnership consists of a Memorandum of Understanding (MoU).
The Bitcoin ETF will be structured to track the spot prices of BTC, offering Chinese investors a new way to access and participate in the performance of this asset using traditional financial infrastructure.
Value Partners has over 30 years of experience in asset management in Hong Kong, and already offers a wide range of investment products such as ETFs. VSFG, on the other hand, as the first authorized virtual asset manager in Hong Kong, will bring experience and technical know-how.
Bitcoin ETF: the comment on the latest news
The CEO of Value Partners, June Wong, stated:
“To offer digital investment solutions to investors while keeping an eye on untapped opportunities in the prevailing trend of virtual assets, we have made the strategic move to enter into this partnership with VSFG, a pioneering virtual asset manager in Hong Kong. The launch plan for a bitcoin spot ETF marks our first collaboration initiative, offering Hong Kong investors exposure to the world’s largest digital asset, all while enjoying the convenience and efficiency of the ETF vehicle. Leveraging Value Partners’ extensive knowledge and track record in ETF management, as well as VSFG’s deep experience, we are well-equipped to offer our clients more investment options, particularly in virtual assets, helping them seize market opportunities and navigate this dynamic and evolving space.”
The President of VSFG, Lawrence Chu, has added:
“We have witnessed a rapid evolution and great potential in the global virtual asset landscape in recent years, and Hong Kong is no exception. At VSFG, we have diligently planned and initiated discussions with market professionals on the positive momentum for the virtual asset sector, and we hope to provide more investment options to investors through spot virtual asset ETFs. Through our joint efforts with Value Partners on the development of a bitcoin spot ETF in Hong Kong, we aim to support Hong Kong in becoming an international center for virtual resources.”
