China Asset Management and Harvest Asset Management are promoting the construction of mortgage financial products based on crypto spot ETFs

Executives from Hong Kong virtual asset ETF issuers Harvest Global and China Asset Management Hong Kong confirmed at the recent Bitcoin Asia conference that they are working to promote the construction of mortgage financial products based on cryptocurrency spot ETFs. BTC Inc. co-founder and CEO David Bailey said: "ETFs are, to some extent, an acknowledgement that Bitcoin will continue to exist. Hong Kong cannot just accidentally launch an ETF... This is not random. The Hong Kong government is very supportive of hosting a Bitcoin conference and believes that Bitcoin is a huge opportunity for Hong Kong." It is reported that BTC Inc. is responsible for hosting the Bitcoin Conference and is the parent company of the crypto media Bitcoin Magazine. (South China Morning Post) Previously, Harvest Global CEO Han Tongli revealed that the company is preparing to issue mortgage financial products based on cryptocurrency spot ETFs. The current goal is to strive to make the trading volume of its cryptocurrency spot ETF reach the first place in Hong Kong by the end of this year. According to data, the first-day trading volume of Harvest Global's cryptocurrency spot ETF ranked second among the three fund companies, and China Asset Management Co., Ltd. (ChinaAMC) ranked first. Han Tongli said that due to the outside world's skepticism about Hong Kong's virtual asset promise, many investors are still standing on the sidelines, which has put pressure on the trading volume of cryptocurrency spot ETFs. However, Han Tongli added that he is confident that Hong Kong's cryptocurrency ETFs can grow to twice the size of U.S. products, but he did not mention when this milestone will be achieved.