Spot ETF trading for Bitcoin and Ether in Hong Kong will begin on April 30
Date: 2024-04-29 Author: Oliver Abernathy Categories: BUSINESS
According to Bloomberg, trading in spot ETFs for Bitcoin and Ethereum will start in Hong Kong on April 30. This event is being anticipated by the global investment community for its potential impact on the digital asset market.
Commission management
Bloomberg Intelligence senior analyst Eric Balchunas confirmed that the funds will be managed with fees ranging from 0.3% to 0.99%, lower than expected. This may attract the attention of investors interested in saving on costs.
Forecasts and prospects
However, Bloomberg Intelligence analyst Rebecca Sin expressed doubts about repeating the success of similar funds in the United States. She expects the investment to be under $1 billion. However, ChinaAMC's head of digital assets, Thomas Zhu, emphasizes the benefits of local funds, noting the rapid conversion of assets into regulated ETFs and strong demand for them.
New investment opportunities
The development also comes amid investment firm Grayscale's bid to create a new product called Ethereum Mini Trust, highlighting the ongoing development of the digital asset market and growing investor interest in it.
The launch of Bitcoin and Ether spot ETF trading in Hong Kong represents a significant event for the investment community, sparking discussions about its potential implications and the prospects for the development of the digital asset market in the region.
