Harvest Global Investments, a leading Chinese fund house and issuer of Hong Kong’s first spot cryptocurrency exchange-traded funds (ETFs), is setting its sights on an ambitious expansion into mainland China. CEO Han Tongli has unveiled plans to potentially offer mainland investors direct access to its bitcoin and ether products through the ETF Connect scheme.
The company’s strategy involves a cautious yet optimistic approach, with considerations of applying for inclusion in the program within the next two years. This decision is contingent upon favorable market conditions and regulatory developments, reflecting Harvest’s strategic foresight and adaptability in navigating the evolving landscape of digital asset investments.
ETF Connect and Harvest’s Future Outlook
Harvest Global Investments, renowned for being one of the three issuers of Hong Kong’s groundbreaking spot cryptocurrency exchange-traded funds (ETFs), is already envisioning a future where mainland investors can directly access its bitcoin and ether products through the ETF Connect scheme.
CEO Han Tongli has expressed openness to the possibility of applying for its ETFs to be included in the connect program, provided that market conditions remain conducive over the next two years. ETF Connect, introduced in May 2022, facilitates mainland investors’ access to selected ETFs listed in Hong Kong, further bridging the gap between the two markets and offering potential opportunities for expansion and growth in the digital asset space.
Also Read: Deutsche Bank Predicts Doomsday for Most Stablecoins In The Market, Questions Tether
Hong Kong’s ETF Debut and Market Reception
Hong Kong’s recent introduction of spot bitcoin and ether ETFs, hailed as the first of their kind in Asia, has garnered significant attention in the global cryptocurrency industry. Despite the anticipation surrounding their debut, trading volumes fell short of expectations, reflecting the nascent stage of the market and the challenges of competing with established counterparts in the US.
However, the launch marked a milestone moment, with the collective value of Bitcoin assets reaching $258 million within the first week of trading. Led by offerings from Harvest Global Investments and other key players, these ETFs signify a notable step forward in the region’s embrace of digital assets.
Additionally, while mainland China investors face regulatory restrictions, alternative investment routes are available, albeit with potential regulatory scrutiny, underscoring the complexities and opportunities within the evolving landscape of cryptocurrency investments.
Also Read: FTX And Alameda Sold $98 Million In Crypto, More Selloff Coming?
The post Harvest Targets Mainland China With Bitcoin & Ether ETFs In 2 Years appeared first on CoinGape.
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