Hong Kong virtual asset spot ETF ushered in its first issuance today and will be officially listed on the Hong Kong Stock Exchange tomorrow. Will this affect the market of the crypto market in May? #ETH #BTC

On April 29, according to China Fund News, the Hong Kong Securities Regulatory Commission has approved the first issuance of 6 virtual asset spot ETFs under China Asset Management Hong Kong, Bosera International and Harvest International on the same day, and plans to be officially listed on the Hong Kong Stock Exchange on April 30.

In terms of the issue price, the products of Harvest International and China Asset Management (Hong Kong) are priced at US$1 per share. The initial issue prices of Bosera Bitcoin ETF and Ethereum ETF match their tracking indexes at 1/10000 and 1/1000 on April 26, 2024, respectively. After conversion, the net value of fund shares is equivalent to the price of approximately 0.0001 Bitcoin and 0.001 Ethereum. This means that holding 10,000 shares is equivalent to owning 1 Bitcoin, and holding 1,000 shares is equivalent to owning 1 Ethereum.

It is worth noting that Hong Kong's spot cryptocurrency ETFs are open to both professional and retail investors in Hong Kong. Hong Kong investors only need to complete a cryptocurrency knowledge test after passing basic KYC (real-name authentication) to purchase Hong Kong's spot Bitcoin and Ethereum ETFs. In contrast, Hong Kong investors who want to purchase corresponding ETFs in the United States must meet the requirements of professional investors and face high investment threshold restrictions.

However, it should be made clear that investors in mainland China are currently unable to participate in the purchase and sale of such ETFs. According to the circular jointly issued by the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority on December 22, 2023, neither the existing virtual asset futures ETFs nor the virtual asset spot ETFs that may be issued in the future shall be sold to retail investors in mainland China and other places where the sale of virtual asset-related products is prohibited. #比特币减半 #BNB #大盘走势

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