Hong Kong Investment Commission: Virtual Asset Spot ETFs Can Be Traded Through Banks
2024-04-27 02:14:25
The Hong Kong Investor and Financial Education Council has stated that the investment scope of spot virtual asset ETFs is limited to virtual assets (currently only Bitcoin and Ethereum) offered to the public in Hong Kong on virtual asset trading platforms licensed by the Securities Supervision Commission. The counterparty must trade virtual assets through licensed virtual asset trading platforms to reduce counterparty risk. Asset management requires the custody of virtual assets by designated institutions regulated in Hong Kong, such as licensed virtual asset trading platforms, banks or their subsidiaries established in Hong Kong, to reduce the risk of management. Investors can buy and sell virtual asset spot ETFs through securities houses or banks. Some virtual asset spot ETFs also offer unlisted fund unit classes. The operation of the relevant unit classes is very similar to that of unlisted funds. Investors can purchase and redeem through securities houses or banks.
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