Your Own Liberty - Investing and Stock News
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Your Own Liberty - Investing and Stock News
No Result
View All Result
Home Investing

Hong Kong Launches Asia’s First Spot Bitcoin and Ethereum ETFs

by
April 30, 2024
in Investing
0
Hong Kong Launches Asia’s First Spot Bitcoin and Ethereum ETFs

The Hong Kong Stock Exchange today announced the launch of new spot Bitcoin and Ethereum exchange-traded funds (ETFs).

According to an official announcement by Hong Kong Exchanges and Clearing Limited (HKEX), the Bitcoin and Ethereum ETFs were welcomed on Tuesday, April 30, marking the introduction of the first spot virtual asset (VA) ETFs in Asia.

Expanding Virtual Asset Investment Choices


The announcement stated that Investor interest in virtual asset ETFs has significantly increased since the launch of VA Futures ETFs in late 2022.

By the first quarter of 2024, the combined average daily turnover for the three VA Futures ETFs listed in Hong Kong surged to $51.3 million from $8.9 million the previous year. These ETFs also attracted $529 million in net inflows during the same period.

The range of exchange-traded products (ETPs) on the Hong Kong Stock Exchange continued to grow, with ETFs and Leveraged and Inverse Products (L&I Products) among the fastest-expanding segments.

“The introduction of Spot VA ETFs in Hong Kong is the latest exciting addition to HKEX’s diverse and vibrant ETP ecosystem, providing investors with access to a new asset class,” said HKEX Head of Equities Product Development Brian Roberts.

“Following the success of VA Futures ETFs, the listing of Asia’s first spot VA ETFs will further enhance the product diversity and liquidity of the Hong Kong ETP market,” said Roberts.

Bitcoin and Ethereum ETF Competition in Hong Kong


China Asset Management Co. (China AMC), Harvest Global Investments, and Bosera International and HashKey Capital are the issuers of the spot Bitcoin and Ethereum ETFs. They could lead a new round of ETF competition according to a previous report.

In 2023 and the first quarter of 2024, HKEX introduced 16 new ETFs, increasing the total offerings to 179. HKEX planned to diversify its product offerings and enhancing its position in the global market.

“We look forward to continue working closely with our stakeholders with a view to launching more products to our international marketplace,” stated Roberts.

The post Hong Kong Launches Asia’s First Spot Bitcoin and Ethereum ETFs appeared first on Cryptonews.

Previous Post

MicroStrategy Reports Net Loss of $53.1M in Q1 of 2024 and Yearly Revenue Decline of 5%

Next Post

Venezuela’s Digital Currency Use to Face Tighter Regulatory Scrutiny

Next Post
Venezuela’s Digital Currency Use to Face Tighter Regulatory Scrutiny

Venezuela’s Digital Currency Use to Face Tighter Regulatory Scrutiny

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Peloton launching resale market for used bikes, treadmills

    Peloton launching resale market for used bikes, treadmills

    June 8, 2025
    House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

    House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

    June 8, 2025
    Desperate to get its illegally detained civilians out of Russia, Kyiv offers Ukrainian collaborators in exchange

    Desperate to get its illegally detained civilians out of Russia, Kyiv offers Ukrainian collaborators in exchange

    June 8, 2025

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • Peloton launching resale market for used bikes, treadmills
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 yourownliberty.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 yourownliberty.com | All Rights Reserved