Trading of Hong Kong Spot Bitcoin and Ethereum ETFs Starts April 30

Per the Securities and Futures Commission (SFC) of Hong Kong, the region’s newly authorized spot bitcoin and ethereum exchange-traded funds (ETFs) are set to commence trading on Tuesday, April 30, 2024.

Anticipation Builds for the Rollout of Bitcoin and Ethereum ETFs in Hong Kong

Recently, the SFC of Hong Kong announced its approval for several spot bitcoin (BTC) and ethereum (ETH) ETFs. These include the Bosera Hashkey Bitcoin ETF, the Bosera Hashkey Ether ETF, China AMC Bitcoin ETF, China AMC Ether ETF, Harvest Bitcoin Spot ETF, and the Harvest Ether Spot ETF. A spokesperson for Hashkey, in a conversation with Bloomberg, confirmed that these ETFs are scheduled to begin trading on April 30.

In a press release, China Asset Management (China AMC) also verified that the funds “are expected to begin trading on Hong Kong Stock Exchange (HKEX) starting April 30, 2024.” Thomas Zhu, head of digital assets and head of the family office business at China AMC, stated that the firm anticipates strong demand for these cryptocurrency funds.

“The spot bitcoin and ether ETFs offer retail and institutional investors a safe, efficient, and convenient means to invest in virtual assets in a regulated framework,” the China AMC executive noted on Wednesday. “The in-kind feature also attracts coin holders by offering the ease of converting coins to fully regulated ETFs managed by professional fund managers and regulated custodians.”

He further added:

With the growing adoption of ETFs in institutional asset allocation and retail trading in Hong Kong, we expect robust demand for our offerings

The press release further notes, that in line with Hong Kong’s goals to cultivate a dynamic Web3 environment, China AMC maintains that it is prepared to create innovative investment options and strategic distinctions to assist clients in reaching their investment objectives within this emerging asset class.