Hong Kong Virtual Asset Spot ETF to be listed tomorrow! Tiger Securities launches zero commission trading

According to the Zhitong Finance and Economics APP, on April 29th, the Hong Kong Securities and Futures Commission approved the first issuance of 6 virtual asset spot currency ETFs under Huaxia Hong Kong, Boshi International, and Jiashi International, which will officially be listed on the Hong Kong Stock Exchange on April 30th. It is worth mentioning that Tiger Brokers (Hong Kong) announced today that its Tiger Trade app will open zero commission and zero platform fee trading for the first batch of 6 virtual asset spot currency ETFs issued in Hong Kong to all Hong Kong clients on April 30th. These ETFs include Boshi HashKey Bitcoin ETF (03008), Boshi HashKey Ethereum ETF (03009), Huaxia Bitcoin ETF (03042), Huaxia Ethereum ETF (03046), Jiashi Bitcoin Spot ETF (03439), and Jiashi Ethereum Spot ETF (03179).

Xu Yang, a partner at Tiger International, stated that the Hong Kong Securities and Futures Commission's official approval of the first batch of virtual asset spot currency ETFs in Hong Kong marks an important step in Hong Kong's process of becoming an international virtual asset center. We are pleased to see the introduction of new and regulated virtual asset investment products in the Hong Kong capital market, making the Hong Kong investment market more diversified and potentially attracting more funds into Hong Kong, thereby expanding the breadth and depth of the Hong Kong market.

In fact, the Hong Kong market is the first market in Asia to issue spot Bitcoin and Ethereum ETFs after the United States. In contrast, the U.S. Securities and Exchange Commission approved the issuance of the world's first spot Bitcoin ETF on January 11, 2024. Data shows that within about 3 months of listing, the U.S. spot Bitcoin ETF has continuously recorded massive inflows, with assets nearing $58.9 billion.

Xu Yang also mentioned that the introduction of the globally pioneering physical subscription and redemption mechanism, which allows investors to directly subscribe with Bitcoin and Ethereum, not only provides investors with more flexible choices but also demonstrates Hong Kong's commitment to creating a more open, transparent, and liquid virtual asset market ecosystem. In addition, investors can directly purchase such products through familiar brokerages and directly with brokerage accounts, reducing the participation threshold and enhancing the convenience for traditional investors to enter the crypto field, thereby expanding the group of virtual asset investors