Venture Smart Financial Holdings Ltd., a Hong Kong-based financial services company, has submitted an application for a Bitcoin exchange-traded fund (ETF) and plans to launch the ETF as early as May. Brian Chan, head of investment and product group at VSFG, said, "If everything goes smoothly," the team hopes to launch in May. "But for safety reasons, we will also focus on June." It is difficult to determine the exact date through the regulatory process, but we are actively discussing with the Securities and Futures Commission."

Asset management company VSFG and its partner Value Partners have applied to the Hong Kong Securities and Futures Commission (SFC) for a physical Bitcoin exchange-traded fund (ETF). Earlier this week, a Bloomberg report stated that the Hong Kong Securities and Futures Commission may allow the creation and redemption of physical Bitcoin ETFs in the second quarter of this year. Venture Smart Financial Holdings, a Hong Kong-based company, also reportedly stated that it will submit an application for a physical Bitcoin ETF.

Hong Kong financial company VSFG stated that if the spot Bitcoin ETF is successfully launched in the first quarter, it plans to submit an application for a spot Ethereum ETF in Hong Kong in the second quarter.