Value Partners Hong Kong Fund Management and VSFG announced the signing of a memorandum of understanding, and the two parties will provide retail and institutional investors with innovative investment solutions that combine virtual assets and traditional investment tools. At the same time, it was announced that as the first step of the cooperation, the two Hong Kong companies will jointly explore the launch of a Bitcoin spot ETF in Hong Kong.
The two companies signed a memorandum of understanding
This month, the United States approved 11 Bitcoin spot ETFs, and the Hong Kong Securities and Futures Commission is also accepting applications for issuing virtual asset spot ETFs. In an earlier interview, Zhu Chengyu, chairman of E-Bet Financial, revealed that he is preparing to submit an application to issue a Bitcoin spot ETF, hoping to formally submit the application before the Lunar New Year and launch it in the first quarter. The initial hope is that the asset management scale (AUM) will reach US$5 million (approximately HK$39 billion) by the end of this year.
Huang Huimin, CEO of Value Partners Group (00806), said that in order to seize the potential opportunities in the field of virtual assets, the company has entered into a strategic partnership with E-BOE Financial and plans to launch a Bitcoin spot ETF as the first link of the cooperation, providing Hong Kong investors with investment opportunities in the world's largest virtual assets while enjoying the efficiency and convenience of ETF tools.
Zhu Chengyu pointed out that the global virtual asset sector has developed rapidly in recent years and has huge potential, and Hong Kong is no exception.
YiBo Finance has been engaged in discussions with all parties in the industry and actively promoted the steady development of the virtual asset industry. It hopes to provide investors with more investment options by planning and developing spot virtual asset ETFs.
Value Partners has over 30 years of asset management experience in Hong Kong and has expertise in a wide range of investment products such as ETFs; E-Bet Financial is Hong Kong's first digital asset management company. In June 2020, it launched Hong Kong's first regulated Bitcoin fund, which is only available to professional investors with experience and technical knowledge of related products.
Source: Today's Economic Times