Hong Kong officially opens trading of six Bitcoin & Ether ETF spot funds today. The latter has previously endorsed asset managers China Asset Management, Harvest Global, Bocera and Hashke.
Today (April 30), the first Spot Bitcoin ETF and Spot Ether ETF officially opened for trading on the Hong Kong Stock Exchange. This comes after the Securities and Futures Commission (SFC) approved asset managers China Asset Management, Harvest Global, Bocera and Hashke earlier this month.
Today, Hong Kong Stock Exchange (HKEX) listed 6 ETFs including Bosera HashKey Bitcoin ETF (3008.HK), Bosera HashKey Ether ETF (3009.HK), ChinaAMC Bitcoin ETF (3042.HK), ChinaETF Ether. 3046.HK), Harvest Bitcoin Spot ETF (3439.HK) and Harvest Ether Spot ETF (3179.HK)
In addition to investors in Hong Kong these crypto products are also available for trading to qualified investors outside Hong Kong. The exception is investors from mainland China, who are still restricted from investing in such products.
One key characteristic that makes Hong Kong crypto products different from those in the United States: It uses a one-of-a-kind model, meaning investors can buy ETFs with Bitcoin or Ethereum and then sell them for cash. (or vice versa), which allows for two-way investment flexibility, HashKey said in a statement today.
2024 is proving to be the year of Bitcion, with the US Securities and Exchange Commission (SEC) approving the creation of the Spot Bitcoin ETF in January. In addition to this success, Bitcoin price also hit an all-time high above $73,000 in March. Then before there is a correction.
Source: Superintendent.Guru, Prohibition
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