Hong Kong virtual asset spot ETF welcomes its first issuance today and will be officially listed on the Hong Kong Stock Exchange tomorrow

Six virtual asset spot ETFs under China Asset Management (Hong Kong), Bosera International and Harvest International, approved by the Hong Kong Securities Regulatory Commission, welcomed their first issuance on April 29 and were officially listed on the Hong Kong Stock Exchange on April 30. In terms of the issue price, the products under Harvest International and China Asset Management (Hong Kong) were issued at a price of US$1 per share. The initial issue prices of Bosera Bitcoin ETF and Ethereum ETF were basically consistent with 1/10000 and 1/1000 of the tracking index on April 26, 2024, respectively, that is, the converted net value of fund shares corresponds to approximately 0.0001 BTC price and 0.001 ETH price, which means that holding 10,000 shares is approximately equal to 1 BTC, and 1,000 shares is approximately equal to 1 ETH. It is understood that Hong Kong spot cryptocurrency ETFs are open to professional and retail investors in Hong Kong. For Hong Kong investors, as long as they pass the cryptocurrency knowledge test, they can purchase Hong Kong's spot Bitcoin and Ethereum ETFs on the basis of basic KYC (real-name authentication). Hong Kong investors must be professional investors to purchase the corresponding ETFs in the United States, and there are high investment threshold restrictions. Mainland Chinese investors are currently not allowed to participate in buying and selling. The joint circular issued by the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority on December 22, 2023 regarding the virtual asset-related activities of intermediaries shows that both the virtual asset futures ETFs currently available in the Hong Kong market and the virtual asset spot ETFs to be issued in the future cannot be sold to retail investors in mainland China and other places where the sale of virtual asset-related products is prohibited. (China Fund News)