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Asia's first spot bitcoin, ether ETFs start trading in Hong Kong

Hong Kong on Tuesday 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. The debut comes three months after the United States gave the greenlight to ETFs pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio. Hong Kong's pioneering crypto ETFs on the city's bourse include six funds issued by three managers -- Bosera Funds, China Asset Management (Hong Kong) Limited and Harvest Global Investments. "These are the first spot ETF products of virtual assets in (the) Asia market, which has proven Hong Kong's leading status in virtual asset development in the region," Joseph Chan said.

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