Venture Smart Financial Holdings Limited, a financial services firm based in Hong Kong, is set to introduce its spot Bitcoin exchange-traded fund (ETF) in the city in Q1. Brian Chan, the group head of investment and product at Venture Smart Financial, shared in an interview with Bloomberg that the company aims to accumulate up to $500 million in assets under management by the end of 2024, recognizing the immense potential in the market. Hong Kong regulators have thus far approved only three futures Bitcoin ETFs: Samsung Bitcoin Futures, CSOP Bitcoin Futures, and CSOP Ether Futures. Hong Kong’s decision to greenlight spot Bitcoin ETFs aligns with the U.S. SEC’s approval of all applications for such funds.
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