HONG KONG, April 30 (Xinhua) -- Hong Kong Exchanges and Clearing Limited (HKEX) announced on Tuesday the listing of Asia's first Spot Virtual Asset (VA) ETFs, which will add diversity of products in Hong Kong's markets and further support Hong Kong's position as the region's leading ETF marketplace by offering investors even more choice.
Investor interest in virtual asset ETFs has grown since VA Futures ETFs were first launched in late 2022. In the first quarter of 2024, the combined average daily turnover for the three VA Futures ETFs listed in Hong Kong reached 51.3 million Hong Kong dollars (about 6.55 million U.S. dollars), up from 8.9 million Hong Kong dollars a year earlier. Additionally, these three VA futures ETFs attracted 529 million Hong Kong dollars in net inflows during the first quarter.
HKEX Head of Equities Product Development Brian Roberts said that the introduction of Spot VA ETFs in Hong Kong is the latest exciting addition to HKEX's diverse and vibrant ETP (Exchange Traded Products) ecosystem, providing investors with access to a new asset class.
The listing of Asia's first spot VA ETFs will further enhance the product diversity and liquidity of the Hong Kong ETP market, Roberts added.
Joseph Chan, acting secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region (HKSAR) government, said that in the future, the HKSAR government will continue to actively leverage Hong Kong's unique advantages to promote the depth and breadth of the development of the virtual asset market.
Chan said the HKSAR government will promote the diversified development of the market on the premise of ensuring the stability of the market and protecting the interests of investors, and create greater opportunities for Hong Kong's financial services industry. (1 U.S. dollar equals 7.82 Hong Kong dollars) ■
