Hong Kong-based financial services provider Venture Smart Financial Holdings (VSFG) aims to submit an application for a spot Ethereum">Ethereum exchange-traded fund (ETF) in Q2, Chairman Lawrence Chu revealed in an interview Friday.
The move follows VSFG entering the final phase of applying for a spot itcoin">Bitcoin ETF slated to launch next quarter if approved by Hong Kong regulators. Discussions typically precede submissions to gauge feasibility and address potential concerns.
Per Chu, around 10 Hong Kong fund companies are now exploring spot crypto ETF products following regulatory warming. Unlike the aggressive fee competition seen in the U.S., VSFG sees an issuance-enabling role, as most local asset managers currently lack sufficient crypto capabilities.
If licensed for both a itcoin">Bitcoin and Ethereum ETF on the timeline suggested, VSFG would anchor a pivotal new onramp for crypto exposure among regional investors. As innovation drives Ethereum adoption in areas like decentralized finance, a fund tracking its native asset could draw intense interest.
