Chinese media outlet Caixin with the info (gated)
- Three Chinese asset managers have received initial approval to offer exchange-traded funds (ETFs) backed by spot virtual assets such as Bitcoin in Hong Kong, as part of the city’s ongoing efforts to turn itself into a global cryptocurrency hub.
- Hong Kong’s Securities and Futures Commission (SFC) gave the go-ahead in principle to Harvest Global Investments Ltd., Bosera Asset Management (International) Co. Ltd. and China Asset Management (Hong Kong) Ltd., according to separate announcements released Monday by the trio.
- They are all Hong Kong subsidiaries of major Chinese mainland mutual fund companies.
BTC update, the halving is approaching in the next week or so:
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Bitcoin 'halvening' (some call it 'halving'):
- halvening cuts in half the amount of tokens that Bitcoin miners receive as reward for their work
- this happens every 4 years
- due next around April 2024
- is part of the process of capping Bitcoin supply at 21 million tokens
