Asia's first spot bitcoin, ether ETFs start trading in Hong Kong
Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub.
The debut comes three months after the United States gave the greenlight to ETFs pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio.
Hong Kong's pioneering crypto ETFs on the city's bourse include six funds issued by three managers — Bosera Funds, China Asset Management (Hong Kong) Limited and Harvest Global Investments.
Each company issued a spot bitcoin and a spot ether ETF, which can be traded in both Hong Kong and US dollars, while ChinaAMC (HK) also allowed trading in Chinese yuan.
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View Details»In the first 30 minutes of trading on Tuesday, the new ETFs all recorded a price rise of between 0.62 percent and 3.81 percent.
CCData, a digital assets analysis firm, said Friday that the new funds were «predicted to not attract the same level of inflows as those in» the United States.
But
