Apple has Hypervisor.framework which has been updated for ARM Mac[1].
Xhyve and HyperKit (used by Docker for Mac) uses Hypervisor.framework exclusively. The last time I tried Hypervisor.framework on x86-64, the CPU performance was quite fine (matches that of VMware/VirtualBox), but I/O was pretty abysmal. Emulating x86-64 on ARM is probably going to be a role of something similar to QEMU.
[1]: https://developer.apple.com/documentation/hypervisor/apple_s...