HONG KONG: Hong Kong on Tuesday (Apr 30) launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub.
Hong Kong on Apr 30, 2024, launched trading of Asia's first spot bitcoin and ether exchange-traded funds. HONG KONG : Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds , moving forward in the city's race to become a regional virtual asset investment hub.
Each company issued a spot bitcoin and a spot ether ETF, which can be traded in both Hong Kong and US dollars, while ChinaAMC also allowed trading in the Chinese yuan. By the close of trade Tuesday, the new bitcoin ETFs recorded an average price rise of nearly 1.7 per cent, while the ether ETFs dropped about 0.5 per cent.
Han Tongli, CEO of Harvest Global, said having in-kind trading in Hong Kong was an"obvious advantage over the United States".
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