As Hong Kong braces for the debut of its first spot Bitcoin and Ethereum ETFs, expectations are soaring that the initial trading volumes will eclipse those witnessed during similar launches in the US, local media reported on April 29.
Huaxia Fund Management (Hong Kong), along with digital asset service provider OSL, are spearheading the launch of these ETFs, which are set to go live on the Hong Kong Stock Exchange on April 30.
During a press briefing held on the eve of the launch, Huaxia’s head of digital assets, Zhu Haokang, expressed robust confidence in the ETFs’ potential, projecting that the trading volume could surpass $125 million day one volume recorded by the spot Bitcoin ETFs launched in the US in January.
Zhu said that the funds had seen strong pre-launch interest, which is further bolstered by the ETFs offering options for both cash and physical redemptions, which are not available in the US market. Additionally,
Zhu said:
“We anticipate setting a new record for a cry
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