Bitcoin & Ether ETFs Fefaatauaiga Amata ia Aperila 30

Hong Kong’s Securities and Futures Commission (SFC) finally approved spot Bitcoin and Ethereum ETFs; trading will begin on April 30. 

Spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have finally been approved by Hong Kong’s SFC and will begin trading on April 30. It will offer institutional investors and retailers a convenient and safer way to invest in digital assets. Unlike US spot BTC ETF, Hong Kong’s motive is to deliver in-kind creation models that assist in creating new ETF shares.

Hong Kong Spot BTC And ETH ETF Trading

On April 24, the official approval for Spot BTC and ETH ETFs trading joyfully filled Hong Kong crypto enthusiasts. After successfully approving the ETFs, Hong Kong is now ready to arrange its first batch of trading, scheduled for April 30. 

According to SFC, The ChinaAMC, Harvest, and Bosera HashKey Bitcoin and Ether ETFs were approved on April 23. Additionally, Bosera Asset Management’s ETF will be managed by HashKey Capital.

Approval of the ETFs showcases a successive step in Hong Kong’s creation of a model for ETFs that assists in developing new ETF shares using BTC and ETH. The in-kind ETF creation model holds the potential to spike assets under management (AUM) and trading volume for ETH and BTC.   

Thomas Zhu, ChinaAMC’s head of digital assets, expressed his views on spot BTC and ETH ETF approval. 

“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,” said Zhu.

He added that the demand for ETFs in institutional asset allocation and retail trading is gradually increasing in Hong Kong, and we expect the same for our offerings. 

What About The ETF Fee? 

Eric Balchunas, senior ETF analyst at Bloomberg, expressed views on ETF fees. On April 25, Balchunas took on X to share his views on a potential fee war on Hong Kong ETFs.

HK spot bitcoin/ether ETFs officially approved to begin trading on April 30th. Fees are 30bps, 60bps and 99bps which is on avg lower than we thought, good sign. We doing an Analyst Q&A in an hour on this w/ local HK team. Register here, bring your qs: https://t.co/GzzCZailx3 https://t.co/AvJ6dv2Xha

- Eric Balchunas (@EricBalchunas) Aperila 24, 2024

According to Balchunas, the fees for ETFs are already more affordable than the expectations, which is a good sign. 30bps, 60bps, and 99bps are the average fee mentioned by the analyst in the tweet. 

Another Bloomberg ETF analyst, James Seyffart, shared his viewpoint on the ETF’s fee expectations.

“A potential fee war could break out in Hong Kong over these Bitcoin and Ethereum ETFs. Harvest coming in hot with a full fee waiver and the lowest fee at 0.3% after waiver.”, he wrote.

BTC And ETH Performance 

According to CoinMarketCap, BTC is trading at $64,271.90 after a drop of 3.71% in 1 day. With a market cap of $1,265,446,644,992, the coin has over $30,847,683,146 in 24-hour volume.

On the other hand, ETH has a current price of $3,153.96, a decline of 3.09% in the past 24 hours. ETH has a market cap of $385,151,186,267 and $14,314,311,576 in 24-hour volume.

Faatasi ai ma se talaaga i le tusitala, Ritika Sharma sa galulue faatasi ma le tele o kamupani faasalalau taʻutaʻua e taulaʻi i tala lautele e pei o faiga faaupufai ma solitulafono. Na ia auai i le Coin Republic o se tusitala mo le crypto, ma maua ai se fiafiaga tele mo cryptocurrency, Web3, NFTs ma isi aseta numera. Na te fa'aaluina le tele o le taimi e su'esu'e ai ma su'esu'e loloto i nei manatu i le uati, ma ose fautua malosi mo tama'ita'i ile STEM.