Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter

A Hong Kong financial services company aims to start an exchange-traded fund investing directly in Bitcoin this quarter as the city pushes ahead with efforts to develop a digital-asset hub.

Venture Smart Financial Holdings Ltd. said it plans to lodge an application with the Securities and Futures Commission to start the ETF. The regulator last month issued guidelines for spot crypto fund approvals for the first time.

“It’s a market that has huge potential,” said Brian Chan, group head of investment and product at the company, also known as VSFG. “Our goal is $500 million in assets under management ...