In a significant development for the cryptocurrency market in Hong Kong, Harvest Fund has officially applied to the first-ever Bitcoin (CRYPTO: BTC) spot Exchange Traded Fund (ETF) with the Hong Kong Securities and Futures Commission (SFC).
Why It Matters:
The submission of this application by Harvest Fund is a clear indicator of the growing interest and acceptance of cryptocurrencies in mainstream financial markets.
This initiative follows closely on the heels of the U.S. Securities and Exchange Commission's approval of the first batch of Bitcoin spot ETFs just two weeks prior, a decision that has seemingly influenced the SFC's accelerated pace in this domain.
The potential approval of this ETF in Hong ...