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News

Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

February 2, 2024 - Around 2 mins mins to read

Key Points:

  • Hong Kong’s VSFG plans to apply for a spot Ethereum ETF, concurrent with its pursuit of a spot bitcoin ETF in Q1.
  • VSFG Chairman, Lawrence Chu, reveals the firm’s advanced stage in submitting the spot bitcoin ETF application to the Hong Kong Securities and Futures Commission.
  • Amid the rise of spot crypto ETF interest in Hong Kong, VSFG positions itself as a service provider, anticipating a competitive landscape among asset manager
Venture Smart Financial Holdings Ltd. (VSFG), based in Hong Kong, is gearing up to apply for a spot Ethereum exchange-traded fund (ETF) while simultaneously pursuing approval for its spot bitcoin ETF in Q1.
Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

VSFG Chairman Lawrence Chu revealed that the firm is in the final stages of submitting the spot bitcoin ETF application to the Hong Kong Securities and Futures Commission.

Chu emphasized the extensive regulatory discussions preceding the application submission in Hong Kong, signaling the firm’s progress. The chairman expressed confidence in targeting a Q2 submission for a spot Ethereum ETF, contingent upon the approval and listing of the spot bitcoin ETF in Q1. However, Chu acknowledged the regulatory dialogue’s influence, stating, “That really depends on the conversation we have with the regulator. We will be ready.”

Venture Smart Financial Holdings’ Ambitious ETF Plans Unveiled

Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

The move aligns with the growing interest in spot crypto ETFs in Hong Kong, with around 10 fund companies exploring potential launches. The anticipation of increased competition may lead to a fee race among asset managers, mirroring trends observed in the U.S. VSFG, recognizing its unique position, aims to assist ETF issuers entering the space, leveraging its expertise as a service provider rather than participating in direct competition.

Chu highlighted the distinction between U.S. and Hong Kong ETF issuers, citing a knowledge gap in digital assets among the latter. He explained, “It becomes less of a competition for us, but rather it’s competition between ETF issuers on their marketing side.”

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Spot Ethereum ETF

Venture Smart Financial

Venture Smart Financial Holdings

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

Key Points:

  • Hong Kong’s VSFG plans to apply for a spot Ethereum ETF, concurrent with its pursuit of a spot bitcoin ETF in Q1.
  • VSFG Chairman, Lawrence Chu, reveals the firm’s advanced stage in submitting the spot bitcoin ETF application to the Hong Kong Securities and Futures Commission.
  • Amid the rise of spot crypto ETF interest in Hong Kong, VSFG positions itself as a service provider, anticipating a competitive landscape among asset manager
Venture Smart Financial Holdings Ltd. (VSFG), based in Hong Kong, is gearing up to apply for a spot Ethereum exchange-traded fund (ETF) while simultaneously pursuing approval for its spot bitcoin ETF in Q1.
Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

VSFG Chairman Lawrence Chu revealed that the firm is in the final stages of submitting the spot bitcoin ETF application to the Hong Kong Securities and Futures Commission.

Chu emphasized the extensive regulatory discussions preceding the application submission in Hong Kong, signaling the firm’s progress. The chairman expressed confidence in targeting a Q2 submission for a spot Ethereum ETF, contingent upon the approval and listing of the spot bitcoin ETF in Q1. However, Chu acknowledged the regulatory dialogue’s influence, stating, “That really depends on the conversation we have with the regulator. We will be ready.”

Venture Smart Financial Holdings’ Ambitious ETF Plans Unveiled

Venture Smart Financial Holdings Targets Spot Ethereum ETF Following Bitcoin Endeavor!

The move aligns with the growing interest in spot crypto ETFs in Hong Kong, with around 10 fund companies exploring potential launches. The anticipation of increased competition may lead to a fee race among asset managers, mirroring trends observed in the U.S. VSFG, recognizing its unique position, aims to assist ETF issuers entering the space, leveraging its expertise as a service provider rather than participating in direct competition.

Chu highlighted the distinction between U.S. and Hong Kong ETF issuers, citing a knowledge gap in digital assets among the latter. He explained, “It becomes less of a competition for us, but rather it’s competition between ETF issuers on their marketing side.”

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.