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ChinaAMC (Hong Kong) to Launch Spot Bitcoin and Ethereum ETFs on April 30: Essential Information

ChinaAMC (Hong Kong) Limited has recently announced the upcoming launch of its new financial products: the Spot ChinaAMC Bitcoin ETF and Spot ChinaAMC Ethereum ETF. Scheduled to commence trading at 1:30 a.m. UTC on April 30, which corresponds to 9:30 a.m. Hong Kong time, these virtual asset spot ETFs highlight the company’s innovative approach to digital assets.

During a detailed press briefing, Zhu Haokang, the head of digital asset management and family wealth at ChinaAMC (Hong Kong), expressed optimism that the trading volumes of these ETFs would exceed the $125 million benchmark set by the first ten US Bitcoin spot ETF issuers on their debut day, January 10 this year. Zhu’s ambition is clear: to position ChinaAMC as the leading ETF issuer on its launch day in Hong Kong, outperforming its local competitors.

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Unique Features and Global Interest in ChinaAMC’s Spot ETFs

Wayne Huang, head of OSL ETF and custody business, reported a successful initial fundraising day for the two funds, including ChinaAMC, with capital inflows significantly surpassing those of the U.S. Bitcoin spot ETFs on their first trading day. ChinaAMC’s spot ETFs set themselves apart from U.S. offerings by allowing both spot and physical subscriptions and redemptions—a feature not available in the U.S.

The ETFs also cater to a diverse audience by offering counters in Hong Kong dollars, U.S. dollars, and RMB, and by providing both listed and unlisted shares. This versatility is attracting a broad spectrum of investors, including Bitcoin mines in Hong Kong who utilize their Bitcoin holdings to invest, as well as investors from regions without local ETFs like Singapore and the Middle East. The Asian trading hours and the physical cash subscription model are anticipated to draw significant interest from American investors as well.

Regulatory Innovation and Future Prospects

OSL implements strict anti-money laundering measures, requiring investors to engage through brokerage firms for account creation and to undergo wallet whitelist verification. This ensures that only verified wallets with no history of suspicious transactions can transfer coins. Despite restrictions preventing mainland Chinese investors from participating, the ETFs are accessible to qualified, institutional, retail, and international investors who comply with local regulations.

Wayne Huang emphasized that potential U.S. classifications of Ethereum as a security would not impact Hong Kong’s Ethereum spot ETF due to independent regulatory procedures by the Hong Kong Securities Regulatory Commission. ChinaAMC and OSL are also exploring the possibility of listing other cryptocurrencies in compliance with local regulations, alongside innovative financial products like inverse leverage and derivatives in partnership with investment banks.

They believe these cryptocurrency ETFs will support market prices through increased liquidity, compliance acceleration, and expanded investment channels. Despite higher fees than its local competitors, ChinaAMC remains confident in its products, citing its adherence to the rigorous standards of thematic and complex ETFs in Hong Kong, its diverse trading options, and its commitment to risk management and operational stability.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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