In Asia's first spot crypto ETF listing, the Hong Kong Stock Exchange today officially listed six Bitcoin and Ether spot ETFs, continuing the region's efforts to become a crypto hub.
Hong Kong Exchange Clearing Limited (HKEX) today listed six such ETFs. namely, Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), and ChinaAMC Ether. ETF (3046.HK), Harvest Bitcoin Spot ETF (3439.HK), Harvest Ether Spot ETF (3179.HK).
Earlier this month, Hong Kong Approves several Spot Bitcoin ETFs and Spot Ether ETFs Managed by China Asset Management, Harvest Global, Bosera and HashKey.
“Following the success of the VA Futures ETF, the listing of Asia's first spot VA ETF will further strengthen the product diversity and liquidity of the Hong Kong ETP market,” said Brian Roberts, Head of Equity Product Development at the Hong Kong Exchange. said. statement.
While spot crypto ETFs are available to investors in Hong Kong as well as accredited investors outside the city, mainland Chinese investors are still restricted from investing in the product.
One of the key features that distinguishes Hong Kong spot crypto products from their U.S. counterparts is their spot trading capability. “Investors can buy ETFs with Bitcoin or Ethereum and then sell them for cash or vice versa, allowing for seamless two-way investment flexibility,” Hashkey said today. said in a statement.
“This is now serving the needs of a different group of people,” said Rebecca Singh, an ETF analyst at Bloomberg. Said last week. “Anyone who holds Bitcoin and Ether has the potential to exchange this into an ETF.”
Hong Kong previously listed three futures-based crypto ETFs: Samsung Bitcoin Futures Active ETF, CSOP Bitcoin Futures ETF, and CSOP Ether Futures ETF. “Investor interest in crypto asset ETFs has increased since the VA Futures ETF was first launched at the end of 2022,” HKEX said in a statement today.
The average daily trading volume of three crypto futures ETFs in the first quarter of this year totaled HK$51.3 million (approximately $6.5 million), up from HK$8.9 million in the same period last year, according to the Hong Kong Exchange. Additionally, three crypto futures ETFs brought in net inflows of HK$529 million in the first quarter.
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