Hong Kong Asset Managers Set to Launch Spot Bitcoin ETFs – Here is When
Hong Kong's asset management firms, including China Asset Management (ChinaAMC) and Harvest Global, are gearing up to launch spot Bitcoin ETFs by the end of this month.
Patrick Pan, CEO of OSL, stated that reports suggest the launch of a spot ETF by late April, with another to follow shortly after, though exact dates remain unconfirmed.
Following the recent approval in principle by the Hong Kong Securities and Futures Commission, asset managers like ChinaAMC and Harvest are set to offer spot Bitcoin ETFs, with OSL serving as a sub-custodian and infrastructure provider.
ChinaAMC anticipates significant demand, particularly from professional investors in Hong Kong, who currently lack access to U.S.-listed spot ETFs. Katie He, head of product and strategy at ChinaAMC, outlined three options for Hong Kong investors to gain exposure to cryptocurrencies through spot crypto ETFs.
While there is optimism, Bloomberg Senior ETF Analyst Eric Balchunas remains cautious about the potential inflows, citing the relatively small size of the Hong Kong ETF market and restrictions on mainland Chinese investors.
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Despite expectations, mainland investor participation through the Southbound Stock Connect program may be limited, as it currently excludes crypto futures ETFs.
The unique in-kind feature of the upcoming Hong Kong spot crypto products allows for seamless switching between spot bitcoin and fully regulated spot bitcoin ETFs, offering convenience and risk reduction for investors.
Gary Tiu, executive director of OSL, highlighted the significance of this feature, noting its absence in other markets, particularly in the retail fund space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
