Hong Kong's ETFs To Launch On April 30
Jack Dorsey's Block To Build Bitcoin Mining System, BlackRock's Bitcoin ETF Sees First $0 Inflow Day
Hong Kong's first spot Bitcoin and Ethereum ETFs are to finally start trading on April 30th, after the official approval from the SFC (Hong Kong's regulator) yesterday.
This comes after the initial greenlight of both Bitcoin and Ethereum ETFs in Hong Kong on April 15th.
ChinaAMC is set to lead with the first batch ETFs. Harvest and Bosera are the other institutions involved.
Hong Kong’s ETFs will follow the in-kind redemption model, which will allow coin holders to convert their coins to regulated ETFs that will then be handled by regulated custodians fund managers.
Similar to US crypto ETFs, Hong Kong’s ETFs are expected to see a race to the bottom fee competition between the organizations involved — according to a Bloomberg analyst, Harvest is bringing 0.3% fees after waiver.
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