Quick Take
In a significant development for the digital assets market, Hong Kong has officially approved the launch of exchange-traded funds (ETFs) for both Bitcoin and Ethereum. According to Eric Balchunas, a senior Bloomberg ETF analyst, these ETFs are set to commence trading on April 30, marking a significant milestone for the industry.
As the news broke, James Seyffart, another Bloomberg ETF analyst who has been closely following the ETF landscape in the United States, suggested that a potential fee war could emerge in Hong Kong, mirroring the competitive forces witnessed in the US market.
Interestingly, the ETF issuers in Hong Kong have set identical fees for their respective Bitcoin and Ethereum offerings. ChinaAMC has pegged its fees at 0.99%, while Harvest has opted for a unique approach, setting its management fee at 0% initially, with a 0.3% fee to be introduced after the first six months. Bosera, on the other hand, has settled on a management fee of 0.60%, according to data from Bloomberg Intelligence.
Given the precedent set by the US fee war, industry experts anticipate further developments in the pricing strategies of these ETF issuers.
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