Hong Kong to List Cryptocurrency Spot ETF Tomorrow, Compilation of Six Bitcoin/Ethereum ETFs

Today, the Hong Kong Stock Exchange issued six Bitcoin and Ethereum spot ETFs, which will officially be listed on the exchange tomorrow, April 30. We have also prepared a comparison table for the six spot ETFs.

Comparison of Six Hong Kong Spot ETFs

In mid-April, Hong Kong officially approved the launch of spot ETFs for Bitcoin and Ethereum by Huaxia Fund, CSOP Fund, and Bosera Fund. In an effort to avoid falling behind and to demonstrate Hong Kong's determination to transform, the six spot ETFs for Bitcoin and Ethereum have been issued today and will be listed on the Hong Kong Stock Exchange tomorrow, 4/30.

According to a report from China Fund News, all six ETFs are denominated in US dollars, with four of them having an issuance price of only $1. This means that ordinary investors can trade Huaxia's Bitcoin/Ethereum ETF with as little as $10 in the secondary market, while the minimum subscription amount for CSOP is $100.

Furthermore, in order to attract early market share, CSOP and Bosera Funds have announced fee waivers for the first 6 and 4 months, respectively, while Huaxia Fund, with the largest assets under management, has slightly higher management fees compared to the other two.

Will the Hong Kong Ethereum ETF Drive Another Wave of Growth?

Since the US SEC approved a Bitcoin spot ETF on January 10th, it has caused a stir in the market, with total assets of eleven ETFs reaching $53.2 billion. Among them, BlackRock's IBIT has seen net inflows for 71 consecutive days.

BlackRock's IBIT has seen 71 consecutive days of net inflows, while Grayscale GBTC continues to see consecutive net outflows

However, the SEC has been reserved about an Ethereum spot ETF, repeatedly delaying applications from various asset management companies and raising concerns while soliciting opinions. Currently, analysts believe that the chances of the SEC approving an Ethereum spot ETF in May are slim.

SEC Delays Grayscale Ethereum Spot ETF Again, Questioning Whether Proof of Equity is Subject to Manipulation by a Few Entities?

Unlike the SEC's stance, Hong Kong approved spot ETFs for both Bitcoin and Ethereum at once. Perhaps benefiting from the issuance of the Ethereum spot ETF, ETH has shown slightly stronger performance than BTC in recent days, with the ETH/BTC ratio rising from 0.047 in mid-April to above 0.051.

Although according to analyst Rebecca Sin from Bloomberg, the accumulated assets under management for Hong Kong's spot cryptocurrency ETFs in the past one to two years amount to only $1 billion, much lower than the scale of the US market, and mainland Chinese investors are also unable to invest in them. However, this historic moment still requires close observation, especially considering the remarkable performance of Chinese investors in recent gold purchases, making cryptocurrency ETFs highly anticipated.