Bitcoin

Victory Securities Unveils Fee Structure for Upcoming Bitcoin and Ether ETFs

Published

7 months ago

April 26, 2024

Victory Securities Unveils Fee Structure for Upcoming Bitcoin and Ether ETFs

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Victory Securities, a Hong Kong-based funding agency, has just lately unveiled the proposed charges for its upcoming Bitcoin and Ethereum exchange-traded funds (ETFs). This announcement is critical because it follows the latest approval of cryptocurrency ETF merchandise within the area, regardless of the Hong Kong Securities and Futures Fee (SFC) not but releasing a listing of authorised ETF issuers.

Navigating the Charges: What to Count on from Hong Kong’s Latest Crypto ETFs

Traders trying to buy shares within the main market of those forthcoming ETFs can count on charges starting from 0.5% to 1% of the full transaction, with a minimal cost of $850, as per particulars from a translated report cited by Wu Blockchain on April 20. Moreover, the secondary market transactions will incur charges of 0.15% for on-line dealings and 0.25% for transactions carried out over the phone.

The price construction set by Victory Securities aligns intently with these seen in the USA, the place asset managers have launched spot Bitcoin ETFs with various charges. For example, Franklin Templeton has carried out a price of 0.19%, whereas others vary from 0.20% to 0.90%. In distinction, the Grayscale Bitcoin Belief (GBTC) costs the next price of 1.5%.

Unique: Victory Securities internally launched the Hong Kong Bitcoin Ethereum spot ETF subscription information and disclosed its charging requirements. Hong Kong securities corporations are promoting to potential purchasers.

The unique textual content of the image is in Chinese language, utilizing Google Translate… pic.twitter.com/oCqlU6EoSm

— Wu Blockchain (@WuBlockchain) April 20, 2024

The thrill surrounding the approval of spot Bitcoin and Ether ETFs in Hong Kong, marking Hong Kong as the newest nation to embrace such monetary merchandise. This approval has been met with enthusiasm, significantly from native exchanges and segments of the crypto neighborhood, although there’s a stage of skepticism concerning the potential success of those ETFs throughout the area.

Moreover, it’s anticipated that three offshore Chinese language asset managers, together with the Hong Kong items of Harvest Fund Administration, Bosera Asset Administration, and China Asset Administration (ChinaAMC), are making ready to launch their very own spot Bitcoin and Ether ETFs quickly. This transfer might probably improve the accessibility and recognition of those digital belongings within the Asian market.

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