Hong Kong Stock Exchange Introduces Bitcoin and Ether Spot ETFs



by Fintech News Hong Kong

April 30, 2024

The Hong Kong Stock Exchange now lists the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF. This move introduces some of the first Bitcoin and Ether spot ETFs in a major Asian financial center.

These ETFs are managed by Bosera Asset Management (International) Co., Limited, serving as the Investment Manager, and HashKey Capital Limited, acting as the Sub-Investment Manager.

The ETFs’ debut in Hong Kong has been met with positive reception, with early trading showing a climb of over three percent for the Bitcoin-focused funds.

Offering a unique ‘in-kind’ subscription mechanism, these ETFs enable direct subscription and redemption using Bitcoin and Ethereum. This facilitates a flexible and straightforward investment process for digital asset enthusiasts and investors.

The ETFs are designed to track the CME CF Bitcoin Reference Rate – Asia Pacific Variant and the CME CF Ether-Dollar Reference Rate – Asia Pacific Variant, respectively, aiming to provide reliable benchmarks for these cryptocurrencies.

In addition, the ETFs are accessible to international investors who meet Hong Kong’s regulatory requirements, including thorough customer due diligence checks, expanding their availability beyond local investors.

Deng ChaoHong Kong ETFs

Deng Chao

“The launch of the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF marks a significant leap forward in democratising access to cryptocurrencies, “These innovative ETFs not only provide a convenient entry point for investors but also underscore our commitment to driving innovation in the virtual asset ecosystem,”

said Deng Chao, CEO of HashKey Capital.

The introduction of these ETFs coincides with Hong Kong’s efforts to reinforce its status as a premier financial centre, adapting to the burgeoning digital finance landscape.

Featured image credit: Edited from Freepik

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