Official announcements or financial updates from ChinaAMC

Hong Kong Debuts Bitcoin and Ethereum ETFs, ChinaAMC Raises HK$950M

Apr 30, 2024, 03:40 AM

Hong Kong has officially launched its first spot Bitcoin and Ethereum ETFs, marking a significant expansion in the cryptocurrency market. These ETFs, which include the Bosera Hashkey Spot Bitcoin ETF and the ChinaAMC Spot Bitcoin ETF, allow investors direct exposure to cryptocurrencies without owning them outright. The launch has generated considerable interest, with the ChinaAMC Bitcoin ETF raising HK$950 million and the Ethereum ETF raising HK$160 million during their initial offering periods, totaling approximately US$142 million. This introduction is seen as a potential competition for U.S. Bitcoin products and a step towards more diversified investment portfolios for Chinese investors. The ETFs are expected to attract substantial capital inflows, particularly from Chinese UHNWIs who can invest through Hong Kong resident permits or registered businesses.