ChinaAMC (Hong Kong) Limited has announced the launch of their Spot ChinaAMC Bitcoin ETF and Spot ChinaAMC Ethereum ETF, scheduled for April 30. This development marks a significant milestone for the Asian cryptocurrency market, with the company aiming to achieve notable trading volume upon listing.
Zhu Haokang, head of digital asset management and family wealth at ChinaAMC (Hong Kong), expressed confidence that the trading volume on the first day would surpass previous records set by US Bitcoin spot ETF issuers. ChinaAMC seeks to become the ETF issuer with the largest trading volume among its counterparts in Hong Kong.
Key distinctions of ChinaAMC’s spot ETFs include the ability to offer spot and physical subscriptions and redemptions, which is unique compared to US spot Bitcoin ETFs. Additionally, these ETFs offer counters in Hong Kong dollar, US dollar, and RMB, with both listed and unlisted shares available, setting them apart from other issuers in Hong Kong.
Interest in these ETFs extends to diverse investors, including Bitcoin mines and those from regions without existing ETFs. The physical subscription model allows investors to transfer coins to OSL through a brokerage firm, enhancing accessibility and security.
Although mainland Chinese investors are currently restricted from participating, qualified investors from Hong Kong, institutional investors, retail investors, and international investors can access these products.
ChinaAMC is also exploring the potential launch of innovative financial products related to their ETFs, anticipating benefits for cryptocurrency prices through increased liquidity and compliance.