ChinaAMC has received approval for its Bitcoin and Ethereum exchange-traded funds (ETFs), marking a significant milestone in the virtual asset market. The ETFs are set to be listed on April 30, 2024. This decision comes after the Hong Kong Securities and Futures Commission (SFC) gave the green light to two spot Bitcoin & Ethereum ETF pairings. Boshi Funds and HashKey Capital Limited, prominent figures in the traditional banking and cryptocurrency sectors, have joined forces to launch this groundbreaking initiative.
Boshi International and HashKey believe that the approval of these ETFs will not only provide investors with more options for asset allocation but also solidify Hong Kong’s position as a leading global financial and virtual asset hub. Both entities see this as an opportunity to write a new chapter in the history of the virtual asset market in Hong Kong.
HashKey Capital also emphasizes that the introduction of spot ETFs for virtual assets will make it easier for traditional financial institutions to invest in virtual assets. This will not only benefit institutional investors but also individual investors, making participation in the virtual asset market more accessible.
Boshi International’s currency-holding subscription system allows investors to subscribe for equivalent ETF shares using Bitcoin and Ethereum. This approach enhances accessibility and ease of use for investors.
In addition to ChinaAMC, which received approval for its Bitcoin and Ethereum ETFs, the company is also set to launch the ChinaAMC Ethereum ETF and the ChinaAMC Bitcoin ETF. These ETFs aim to provide investors with a quick, efficient, and secure way to allocate digital assets, according to Zhu Haokang, Head of digital asset management at ChinaAMC.
In other crypto news, Block, led by Jack Dorsey, has developed a three-nanometer Bitcoin mining chip. This development is expected to have a significant impact on the crypto mining industry.
Overall, the approval of Bitcoin and Ethereum ETFs in Hong Kong and the development of innovative technologies in the crypto space highlight the continuous evolution and growing acceptance of virtual assets in the global financial landscape.