Hong Kong Makes History with Asia’s First Spot Virtual Asset ETFs Listing
Hong Kong Exchanges and Clearing Limited (HKEX) proudly announced the debut of Asia’s inaugural Spot Virtual Asset (VA) Exchange-Traded Funds (ETFs) on Tuesday.
This landmark listing bolsters the diversity of offerings within Hong Kong’s financial markets and reinforces the city’s stature as the premier ETF hub in the region, providing investors with an expanded array of options.
Brian Roberts, HKEX’s Head of Equities Product Development, expressed enthusiasm about this development, stating, “The introduction of Spot VA ETFs in Hong Kong represents a significant milestone in HKEX’s dynamic ETP ecosystem, granting investors access to a novel asset class. Building on the success of VA Futures ETFs, the introduction of Asia’s first spot VA ETFs will enrich the product spectrum and liquidity of the Hong Kong ETP market.
“We eagerly anticipate further collaboration with our stakeholders to introduce more innovative products to our global marketplace.”
Asia’s #first Spot Virtual Asset ETFs are here, further enhancing the diversity and liquidity of Hong Kong’s ETP market. Many #congratulations on the listing of six Spot VA ETFs today!
— HKEX 香港交易所 (@HKEXGroup) April 30, 2024
Learn more: https://t.co/wUmxq4bJSj pic.twitter.com/WWzIE9EQjT
Investor interest in virtual asset ETFs has surged since the launch of VA Futures ETFs in late 2022.
Notably, during the first quarter of 2024, the combined average daily turnover (ADT) for the three VA Futures ETFs listed in Hong Kong surged to $51.3 million, a substantial increase from $8.9 million a year earlier.
Furthermore, these three VA Futures ETFs attracted $529 million in net inflows during the same period.
Exchange-Traded Products (ETPs), encompassing ETFs and Leveraged and Inverse Products (L&I Products), have emerged as one of the fastest-growing segments within HKEX’s markets.
Over the past year, the range of products available in Hong Kong has expanded significantly.
Noteworthy additions include the introduction of Asia Pacific’s maiden Saudi Arabian ETF and Hong Kong’s inaugural listings of Covered Call ETFs, as part of the 16 new ETFs introduced in 2023 and the first quarter of 2024, elevating the total count to 179.
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