Hong Kong launches its first Bitcoin and Ethereum trading funds in Asia.

Hong Kong launches its first Bitcoin

and Ethereum trading funds in Asia.

The Hong Kong Stock Exchange (HKSE) today announced

the launch of new Bitcoin and Ethereum Trading Funds (ETFs).

According to

an official announcement by Hong Kong Securities and Clearance Exchange

Ltd (HKEX), ETFs for bitcoin and ethereum were received on Tuesday

April 30, indicating the introduction of

Asia's first Virtual Asset Trading Funds (VA).

Expanding investment options in virtual assets

Investors' interest in virtual asset ETFs has increased significantly since

the launch of virtual asset ETFs at the end of 2022.

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In the first quarter of 2024, the combined daily average of three ETFs in Hong

Kong's listed virtual assets rose to $51.3 million from $8.9 million a year earlier.

These funds also attracted $529 million in net flows during the same period.

• Hong Kong's portfolio of exchange-traded products continued to expand

• with ETFs, leveraged trading products and inverted

• products among the fastest growing.

"The launch of

• virtual asset ETFs in Hong Kong is an exciting addition to

• the latest enhancement of Hong Kong's ETF system, providing investors

• with access to a new asset class," said Brian Roberts, Hong Kong's head of

equity product development for stock exchanges and settlements Ltd.

"After the success of

virtual asset ETFs, the inclusion of Asia's first virtual asset ETFs will enhance

product diversity and Hong Kong market liquidity," Roberts added.

Competition between

Bitcoin ETFs and Hong Kong Ethereum

• China Asset Management Co. (China AMC), Harvest Global Investments

• Bosera International and HashKey Capital are the exporters of bitcoin

• and Ethereum traded funds. These funds can lead a new round of

• competition in the ETF market according to a previous report.

In 2023 :

and the first quarter of 2024

the Hong Kong Stock Exchange introduced 16 new funds, increasing total offers to

179 funds. The Hong Kong Stock Exchange was planning to diversify its offers

and strengthen its position in the global market.

"We look forward to continuing to collaborate closely with stakeholders to

launch more products in our global market," Roberts stated.