Spot digital asset ETFs begin buying and selling on HKEX

The Hong Kong Inventory Trade (HKEX) has this week welcomed the itemizing of Asia’s first spot digital asset (VA) ETFs on April 30 after the exchange-traded funds (ETFs) for Bitcoin and Ethereum (often known as Ether) have been accepted by the Hong Kong authorities. 

Harvest International Investments has launched two blue-chip Asia’s cryptocurrency spot ETFs — the Harvest Bitcoin Spot ETF and the Harvest Ether Spot ETF, each listed on HKEX, in accordance with a media launch. 

On the itemizing ceremony, Tongli Han, chief govt and chief funding officer of Harvest International Investments, said that Hong Kong, as a global monetary heart, has been dedicated to selling the event and ecosystem of digital belongings because the declaration of digital asset growth in Hong Kong was issued in October 2022.

China Asset Administration (Hong Kong) additionally listed its Bitcoin and Ether spot ETFs on the HKEX. As of the market shut on April 30, ChinaAMC Bitcoin ETF ended with $5.3 million in quantity, whereas ChinaAMC Ether ETF noticed $1.8 million of quantity.

By the closing bell, ChinaAMC Bitcoin ETF had secured $121.7 million of asets below administration (AUM), and the ChinaAMC Ether ETF had $20.4 million AUM.

Bosera Asset Administration (Worldwide) and HashKey Capital additionally launched the Bosera HashKey Bitcoin ETFand the Bosera HashKey Ether ETF (referred to as Bosera Hashkey Spot Digital Asset ETFs) on the HKEX.

The 2 ETFs monitor the CME CF Bitcoin Reference Price, Asia Pacific Variant and the CME CF Ether-Greenback Reference Price, Asia Pacific Variant, respectively. Additionally they have a coin-based subscription mechanism, which permits buyers to straight use Bitcoin and Ether to subscribe for corresponding ETF shares. 

Brian Roberts, HKEX head of equities product growth, mentioned: “The introduction of spot VA ETFs in Hong Kong is the newest thrilling addition to HKEX’s numerous and vibrant ETP ecosystem, offering buyers with entry to a brand new asset class. Following the success of VA Futures ETFs, the itemizing of Asia’s first spot VA ETFs will additional improve the product range and liquidity of the Hong Kong ETP market. We sit up for proceed working carefully with our stakeholders with a view to launching extra merchandise to our worldwide market.”

Investor curiosity in digital asset ETFs has grown since VA Futures ETFs have been first launched in late 2022.

Trade traded merchandise (ETPs), together with ETFs and leveraged and inverse merchandise (L&I merchandise), are one of many fastest-growing segments in HKEX’s markets. These embody Asia Pacific’s first Saudi Arabian ETF, Hong Kong’s listings of coated name ETFs, a part of the 16 new ETFs launched in 2023 and within the first quarter of 2024, bringing the overall to 179.

In the meantime, the HKEX has appointed Carlson Tong as its new chairman succeeding the reitiring Laura Cha. Cha has been appointed a senior advisor to the board from April 25, 2024 to April 25, 2025. Tong has spent over 30 years with KPMG. 

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