In January, Harvest Küresel Investments, a major asset-management company in China, purportedly became the first to apply for a spot-bitcoin exchange-traded fund (ETF) with the SFC.
BitgetX HK, which launched in April, is withdrawing from Hong Kong and will shut operations on Dec. 13.
The news comes a day after HSBC, one of the world’s largest banks, said it plans to start a digital-assets custody service for institutional clients.
The move appears to be another step in Hong Kong’s recently accelerated ambitions to become a virtual asset hub.
The territory’s leader urged investors to use licensed platforms and promised more education about crypto risks.