Asia’s first batch of exchange-traded funds (ETFs) for virtual assets has been listed in Hong Kong. According to data from the Hong Kong Stock Exchange, the total trading volume of the six virtual asset spot ETFs issued in Hong Kong on the first day was approximately HKD 83.36 million. Among them, the trading volume of Huaxia Bitcoin ETF (3042.HK) was HKD 35.48 million, and the trading volume of Huaxia Ethereum ETF (3046.HK) was HKD 12.63 million. The trading volume of Bosera HashKey Bitcoin ETF (3008.HK) was HKD 10.16 million, and the trading volume of Bosera HashKey Ethereum ETF (3009.HK) was HKD 2.48 million. The trading volume of ChinaAMC Bitcoin Spot ETF (3439.HK) was HKD 17.66 million, and the trading volume of ChinaAMC Ethereum Spot ETF (3179.HK) was HKD 4.95 million. In comparison, when 11 spot Bitcoin ETFs began trading in the United States in January this year, the daily trading volume on the first day reached approximately USD 4.6 billion.
Cai Fengyi, Executive Director of the Investment Products Division of the Securities and Futures Commission of Hong Kong, said that providing regulated virtual asset spot ETF products that meet the needs of Hong Kong investors is in the public interest. In addition, the recognition of virtual asset ETFs by the Securities and Futures Commission does not equate to supporting related virtual assets or encouraging the public to make related investments. She stated that virtual assets themselves are highly speculative and prices are extremely volatile, reminding the public that virtual assets are not suitable for all investors. Only those who fully understand them and can bear their risks should consider related products.
In recent years, the virtual asset market has experienced a lot of turbulence, including the collapse of stablecoins, the closure of various trading platforms, fraud, and other events, resulting in significant losses for many investors. However, at the same time, more and more investors have a demand for virtual assets and have made related investments through different channels. Many traditional financial institutions and intermediaries have also begun to provide related services for virtual asset investments. Therefore, since 2018, the Securities and Futures Commission of Hong Kong has introduced a comprehensive framework to regulate a wide range of activities related to virtual assets.
(Note: The translation does not include the tags and the last paragraph.)