Public fund subsidiaries in Hong Kong have achieved a significant milestone in virtual asset ETF offerings.
On the evening of April 24, Harvest Global Investments ("Harvest Global") and ChinaAMC (HK) disclosed that their Bitcoin and Ethereum ETFs had received approval from Hong Kong’s Securities and Futures Commission (SFC).
Additionally, Bosera Asset Management (International) ("Bosera International") confirmed its joint application with HashKey Capital for two spot virtual asset ETFs was formally approved by the SFC.
Key Highlights:
- These are Asia’s first spot Bitcoin and Ethereum ETFs, featuring an in-kind subscription mechanism (allowing direct crypto-to-ETF conversions).
- ChinaAMC (HK)’s products will list on HKEX by April 30, while Harvest Global’s ETFs will debut in late April.
- The ETFs lower investment barriers and enhance transparency via physical redemptions, attracting global capital inflows.
Industry Perspectives:
Zhu Haokang, ChinaAMC (HK)’s Head of Digital Asset Management, noted:
"These ETFs offer a regulated, exchange-traded gateway to crypto exposure, appealing to both retail and institutional investors."
- Han Tongli, CEO of Harvest Global, emphasized the products’ role in capturing blockchain-driven growth opportunities.
- HashKey Capital highlighted the ETFs’ potential to bridge traditional finance with virtual assets, expanding mainstream adoption.
Market Context:
- Three crypto futures ETFs already trade in Hong Kong (e.g., Samsung Bitcoin Futures ETF, up 51.92% YTD per Wind Data).
- Analysts anticipate strong demand for these pioneering spot ETFs, given their regulatory safeguards and innovative structures.
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FAQ Section
Q: How do these ETFs differ from existing crypto futures ETFs?
A: Spot ETFs hold actual cryptocurrencies (vs. futures contracts), offering direct exposure with lower rollover costs.
Q: Can investors redeem ETF shares for physical crypto?
A: Yes—the in-kind mechanism allows conversions, enhancing liquidity and flexibility.
Q: Why is Hong Kong a hub for virtual asset ETFs?
A: Its progressive regulatory framework attracts global issuers seeking compliant crypto investment vehicles.
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