SOLOWIN HOLDINGS Selected as a Key Dealer in Harvest Global’s First Spot Bitcoin and Ethereum ETF in Hong Kong

April 16, 2024 by No Comments

HONG KONG, April 16, 2024 — SOLOWIN HOLDINGS (Nasdaq: SWIN) (“SOLOWIN” or the “Company”), a securities brokerage company that offers comprehensive financial services primarily to Chinese investors, today announced that Solomon JFZ (Asia) Holdings Limited, its operating subsidiary, has been selected as one of the three participating dealers for Harvest Global’s spot Bitcoin and Ethereum ETF in Hong Kong. Harvest Global was one of the just three ETF providers to receive conditional approval from the Hong Kong Securities and Futures Commission (SFC) this week to launch spot Bitcoin and Ethereum ETFs.

Mr. Thomas Tam, Chief Executive Officer of SOLOWIN, commented, “We are excited to play a crucial role in the launch of Harvest Global’s first spot Bitcoin and Ethereum ETF in Hong Kong. This milestone will not only provide investors with new asset allocation opportunities but also reinforces Hong Kong’s reputation as a top international financial centre and a hub for virtual assets. As a key participating dealer, we will leverage our expertise in financial products and our deep understanding of the local market to offer the ETF to a broad spectrum of investors and clients. Our partner, OSL Digital Securities, will act as the trading platform and sub-custodian for the ETF. We are committed to providing the highest quality of services to clients and upholding the highest standards of regulatory compliance and security. Being part of this groundbreaking initiative will position us to attract a wider range of investors and strengthen our position in the virtual asset market.”

The conditional approval, coming just three months after the U.S. introduced similar ETFs which attracted around US$12 billion in investments, marks a significant regulatory advancement for Hong Kong’s aspirations to be a global virtual asset hub. The virtual asset spot ETFs in Hong Kong will also introduce an in-kind subscription mechanism that allows investors to buy into the ETF using Bitcoin or Ethereum directly. This is expected to act as a transformative vehicle for channelling significant investment into the virtual asset space.