Hong Kong investment firm Victory Securities reveals Bitcoin and Ether ETF fees

Despite the Hong Kong SFC not yet publishing an approved list of issuers, Victory Securities has disclosed its fees for Bitcoin and Ethereum ETFs.The announcement comes even though the Hong Kong Securities and Futures Commission has not yet published the list of approved ETF issuers.

If approved by the SFC, Victory Securities' customers will face proposed fees for Ethereum and Bitcoin ETF shares in the primary market, set at 0.5% to 1% of the total transaction, with a minimum fee of $850, according to an extract of a translated report shared by Wu Blockchain on April 20. For investors interested in buying and selling existing ETF shares on the secondary market, the fees will be 0.15% for online transactions and 0.25% for telephone transactions.The fees are comparable to the competitive rates provided by United States asset managers offering spot Bitcoin ETFs. Although fees are currently waived until August, asset manager Franklin Templeton has set its fee at 0.19%, while other ETFs range between 0.20% and 0.90%.

While the approval saw praise from many in the crypto community including local Hong Kong exchanges, others were more skeptical of the "Mainland China investors probably won’t be eligible to buy Hong Kong-listed spot bitcoin and ether ETFs as they are barred from buying virtual assets," Bloomberg ETF analyst Eric Balchunas recently stated in an April 17a16z snubs crypto, Mango Markets exploiter found guilty and Worldcoin launches blockchain network: Hodler’s Digest, April 14-20

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong green lights first spot Bitcoin ETFs: Law DecodedThe Hong Kong Securities and Futures Commission has reportedly approved three spot Bitcoin exchange-traded funds.
Source: Cointelegraph - 🏆 562. / 51 Read more »

BTC, ETH Rise as Hong Kong Bitcoin ETF Applicants Say They've Been ApprovedThe Securities and Futures Commission, Hong Kong's markets regulator, has not made an official announcement.
Source: CoinDesk - 🏆 291. / 63 Read more »

Hong Kong Primed for Bitcoin ETFs, Expert Calls It Game-ChangerHong Kong about to allow Bitcoin ETFs, top Bloomberg expert reveals when and how
Source: Utoday_en - 🏆 295. / 63 Read more »

Hong Kong Likely To Allow In-Kind Creations for Spot Bitcoin ETFs: BloombergHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »

Hong Kong’s in-kind ETF creation could be a significant market opportunity: AnalystsHong Kong aims to enable in-kind creations and redemptions for spot Bitcoin ETFs in the second quarter.
Source: Cointelegraph - 🏆 562. / 51 Read more »