As Hong Kong prepares for the debut of its first spot BTC and Ethereum ETF, expectations are soaring that its initial trading volumes will surpass those of the United States, local media reported on April 29.

China Asset Management (Hong Kong) and digital asset service provider OSL are leading the launch of these ETFs, which will be listed on the Hong Kong Stock Exchange on April 30.

Zhu Haokang, head of digital assets at Hua Xia Fund, said at a press conference held on the eve of the issuance that he is confident in the potential of the ETF and expects the first-day trading volume to exceed US$1.25, which is beyond the trading volume of the spot BTC ETF issued in the United States in January this year.

Zhu Haokang said that these funds received strong attention from investors before their launch, and the fact that ETFs offer both cash and physical redemption options further enhanced investor interest.

In addition, Zhu Haokang added: "We expect to set a new record for ETF debuts in Hong Kong."

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​      According to media reports, six Hong Kong virtual asset spot ETFs were officially listed on the Hong Kong Stock Exchange today, April 30, including the Bitcoin spot ETF and Ethereum spot ETF under China Asset Management (Hong Kong), Bosera International, and Harvest Global ETF.

Xian Sujun, chief analyst for ETFs in Asia Pacific at Bloomberg Industry Research, believes that the asset management scale of Hong Kong's Bitcoin and Ethereum spot ETFs is expected to reach US$1 billion, but whether it can ultimately be achieved depends on the speed of development of the infrastructure and ecosystem.

Bloomberg data shows that only about three months after its listing, the U.S. spot Bitcoin ETF continued to record huge inflows, with a scale of nearly US$58.9 billion.

It is understood that the Hong Kong spot cryptocurrency ETF is open to Hong Kong professional and retail investors. Mainland Chinese investors are currently not allowed to participate in buying and selling.

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