Bloomberg: Hong Kong's iPro Financial plans to submit a spot Bitcoin ETF application to the Securities and Futures Commission in the first quarter
ChainCatcher news, according to Bloomberg, Hong Kong financial services company Venture Smart Financial Holdings Ltd. (VSFG) announced that it plans to apply to the Hong Kong Securities and Futures Commission to launch a direct investment Bitcoin exchange-traded fund (ETF), specifically a spot Bitcoin ETF, in this quarter.
The company's Head of Investment and Product Group, Brian Chan, stated, "This is a market with tremendous potential, and our goal is to manage assets reaching $500 million by the end of this year."
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