Hong Kong Bitcoin and Ethereum spot ETFs are listed today. BTC falls back below 64,000. The market is in chaos.
This is a big investment event that happened on the Hong Kong exchange. On the 15th, the Hong Kong Securities Regulatory Commission approved the applications of six Bitcoin and Ethereum spot ETF products from subsidiaries of three Chinese public fund companies, namely Bosera International, China Asset Management and Harvest International. Then, on the 30th, these six ETF products were listed on the Hong Kong Stock Exchange, but unexpectedly, their prices all fell below the opening price.
At first, this seemed like a great thing and people were excited. After all, it is always a good thing to have one more option in the investment market, right? However, after this emerging investment product was listed, its performance was unexpectedly bad. The price plummeted, like a thunderstorm after the rain, catching people off guard.
These six ETF products are different, with different management fees, issue prices, trading units, etc. In terms of management fees, Harvest International's ETF has an annual management fee of 0.3% of the net asset value, while Bosera International's is 0.6%. The issue price is also different, some are $1 per share, and some are calculated based on a specific index.
For investors, the primary market application requirements for these new products are also different. Some require a minimum of 100,000 shares, while others require 50,000 shares. However, the minimum trading unit in the secondary market is the same, all in shares.
The Hong Kong Stock Exchange welcomes the listing of these virtual asset ETFs, believing that this will increase the variety of products in the market and provide more choices. They hope that this will further enhance the product variety and liquidity of the exchange and bring better investment opportunities to investors.
If you also want to join this investment trend, you might as well consider these new virtual asset ETF products, perhaps they will bring you unexpected returns.
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