On April 29, China AMC (Hong Kong) Limited held a press briefing to announce the launch of the Spot ChinaAMC Bitcoin ETF and Spot ChinaAMC Ethereum ETF (April 30 at 1:30am UTC, April 30 at 9:30am Hong Kong time). The event, titled "Asian Premiere - Spot China AMC Bitcoin ETF and Spot China AMC Ethereum ETF," provided valuable insights into the company's expectations and the unique features of its offerings.
According to Foresight News, Zhu Haokang, head of digital asset management and family wealth management at China AMC (Hong Kong), noted that the trading volume of the Spot China AMC Virtual Asset #ETF on the first day of listing surpassed the trading volume of the U. S. spot #bitcoin ETF issued on January 10 this year. He expressed confidence that it will surpass the US$125 million record set by 10 companies. He also said ChinaAMC aims to become the ETF issuer with the highest first-day trading volume among the three Hong Kong issuers.
Wayne Fan, head of OSL's ETF and custody business, confirmed that OSL has completed first-day fundraising for two funds, including ChinaAMC and another fund, and that trading volumes significantly exceeded inflows into the U. S. bitcoin spot ETF on the first day of trading.
One of the key differences between ChinaAMC spot ETFs and U. S. ETFs is the ability for spot and physical subscription and redemption, which is not available in U. S. spot bitcoin ETFs. In addition, the ChinaAMC Hong Kong Spot ETF is the only ETF with HKD, USD and RMB counters that offers both listed and unlisted stocks, which sets it apart from the other two Hong Kong issuers.
The launch of these ETFs has attracted interest from a wide range of investors, including bitcoin miners who can directly purchase Hong Kong virtual asset spot funds using their bitcoins. Investors from countries and regions that have yet to launch ETFs, such as Singapore and the Middle East, have also shown strong interest. Despite the large market for bitcoin-spot ETFs in the U. S. , Hong Kong's subscription model for cash and physical assets and trading in the Asian time zone is expected to attract many U. S. investors. Several family offices in Asia and abroad have also expressed interest in spot cryptocurrency ETFs.
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