Investment management firm BOCI-Prudential Trustee, in partnership with its sub-custodians OSL Digital Securities and Hash Blockchain, has assisted its fund manager clients in the successful launch of six spot bitcoin and ether exchange-traded funds (ETFs), the first batch of approved spot virtual asset ETFs listed on the Stock Exchange of Hong Kong.
Acting in its role as custodian and fund administrator of these ETFs, BOCI-Prudential has established an innovative end-to-end servicing model for retail investors by providing digital asset ETF custody services for the spot virtual asset ETFs in the city.
Currently, the firm is the only custodian and fund administrator supporting the launch of this type of ETFs, which, it says, “play an indispensable and pivotal role in meeting the fast-growing demands of a new asset class”.
Andrew Law, CEO of BOCI Prudential, adds: “The launch of the spot virtual asset ETFs strengthens Hong Kong’s competitive edge in the world of digital asset investments by allowing not only authorized participants to create or redeem fund shares by in-cash, as well as in-kind process, but also by offering retail investors an efficient, transparent and convenient way to gain investment exposure to cryptocurrencies in a regulated environment.”
FAQs
Hong Kong has become the latest country to approve spot exchange-traded funds (ETF) for Bitcoin BTC $62,991 and Ether ETH $3,078 , with local regulators issuing approvals to at least three local issuers.
When did Hong Kong bitcoin ETF launch? ›
CSOP launched Asia's first bitcoin futures ETF in Hong Kong in 2022.
Can you buy bitcoin ETF in Hong Kong? ›
In Hong Kong, investors looking to purchase Bitcoin ETFs can do so through licensed brokerage platforms that are regulated by the Hong Kong Securities and Futures Commission (SFC).
Are Hong Kong bitcoin and Ether ETFs officially approved to start trading on April 30? ›
Hong Kong Bitcoin and Ether exchange-traded funds (ETFs) will differ significantly from their United States counterparts, as the city's regulator has approved them for launch on April 30.
How to invest in bitcoin in Hong Kong? ›
In Hong Kong, there are four methods to purchase cryptocurrency: through Virtual Asset Trading Platforms (VATPs), Virtual Asset Over-the-Counter (VA OTC) dealers, SFC-licensed brokers, and Crypto ETFs. VATPs are regulated and approved platforms for cryptocurrency trading in Hong Kong.
What ETF invests directly in bitcoin? ›
Top Bitcoin ETFs
| Fund (ticker) | YTD performance | Expense ratio |
|---|
| IShares Bitcoin Trust (IBIT) | 50.2% | 0.12% |
| Fidelity Wise Origin Bitcoin Fund (FBTC) | 50.2% | 0.25% |
| ARK 21Shares Bitcoin ETF (ARKB) | 50.0% | 0.21% |
| Bitwise Bitcoin ETF Trust (BITB) | 49.8% | 0.20% |
3 more rowsApr 12, 2024
Trading Information
| HKD Traded Units | USD Traded Units |
|---|
| Reuters Code | 3042.HK | 9042.HK |
| ISIN Code | HK0001009700 | HK0001009726 |
| Bloomberg Ticker | 3042 HK | 9042 HK |
| Bloomberg NAV | 3042NAV | 9042NAV |
8 more rowsTable 1: Top 10 HKEX ETF RSP Return
| Stock Code | Exchange | Ticker Name |
|---|
| 2823 | HKEX | iShares FTSE China A50 ETF |
| 2846 | HKEX | iShares Core CSI 300 ETF |
| 3010 | HKEX | iShares Core MSCI Asia ex Japan ETF |
| 3073 | HKEX | SPDR® FTSE Greater China ETF |
6 more rowsHong Kong's Securities and Futures Commission has granted approvals for three spot Bitcoin and Ether exchange-traded funds. Following the conditional authorization, to become officially listed, the asset managers issuing the products will apply to Hong Kong Exchanges and Clearing, the SFC added.
Is bitcoin legal in Hong Kong? ›
There are currently no laws or regulations that provide that engaging in blockchain technology is illegal in Hong Kong. However, certain activities related to blockchain technology, including activities relating to cryptocurrency and virtual assets, may be subject to restrictions under Hong Kong laws and regulations.
Factors like intraday pricing deviations, market price variations and fund management efficiency contribute to tracking errors. For Bitcoin ETFs, several factors can influence tracking error, which is the deviation between the fund's returns and the performance of the underlying Bitcoin index or benchmark.
When can Hong Kong trade bitcoin? ›
HashKey Exchange and OSL became the first licensed crypto exchanges in Hong Kong in August, allowing retail investors to trade bitcoin and ethereum using the platforms.
Has Hong Kong approved bitcoin and ethereum spot ETFs? ›
Hong Kong regulators approve launch of spot bitcoin and ether ETFs. Hong Kong regulators on Monday approved the launch of spot bitcoin and ether exchange-traded funds (ETFs), asset managers said. ChinaAMC, Harvest Global and Bosera International are among those that have been given the green light to issue ETFs.
When did Hong Kong bitcoin ETF start trading? ›
April 24 (Reuters) - Hong Kong-listed spot bitcoin and ether exchange traded funds aim to start trading on April 30, three asset managers that provide the products said on Wednesday.
What is the name of the first bitcoin ETF? ›
In October 2021, the first bitcoin futures exchange-traded fund (ETF), called BITO, from ProShares was approved by the SEC and listed on the CME.
Have ETH ETF approved? ›
ETHE is the largest spot Ethereum fund in the world, accounting for more than 2% of the total market capitalization of Ether at the time of writing. Its expense ratio is 2.50%, and it currently has no fee waiver promotions. It was also approved for exchange trading on July 23.
Does Hong Kong accept cryptocurrency? ›
Accepting crypto assets (including NFTs) as donations, or otherwise dealing with crypto assets in Hong Kong, would be subject to Hong Kong money laundering, terrorist financing, and sanctions laws and regulations.
When ETH spot ETF? ›
Spot ether ETFs were not approved for trading in the U.S. until July 2024, when the SEC officially approved nine spot ether ETFs for trading on U.S. exchanges. Spot ether ETFs hold ether tokens in their portfolios.
How to buy ethereum in Hong Kong? ›
Buy Ethereum in Hong Kong in 5 Easy Steps
Input your Ethereum-supported wallet address. Login with email and verify your information. Complete the payment using leading payment methods such as Credit Cards, Apple Pay, Google Pay, Bank Transfer and more to instantly receive ETH in your wallet.
