China Asset Management Co.’s newly launched Bitcoin and Ethereum exchange-traded funds (ETFs) offer fresh avenues for Chinese currency holders to diversify their investments. According to Bloomberg, China AMC CEO Yimei Li emphasized in an interview that these ETFs mark a crucial step towards facilitating cryptocurrency investment for mainland Chinese investors.
Chinese RMB Trading Counter for Potential Mainland Investors
Despite the ban on crypto trading in mainland China, Li highlighted that the official introduction of the ETFs “opens the door for a lot of RMB holders” to engage in these investments. She expressed optimism about a potential “new opportunity” for mainland Chinese investors to participate in this evolving landscape in the future.
As per an announcement from China AMC on April 29, the newly launched funds offer unprecedented flexibility, allowing investors to conduct transactions in cash or in-kind. The company’s offerings include trading counters in USD, HKD, and RMB, catering to both listed and unlisted shares. These ETFs stand out as the sole Bitcoin and Ethereum ETFs featuring a Chinese yuan trading counter.
Li expressed the company’s aspirations, stating, “As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors.”
Asia’s First Bitcoin ETFs and Ethereum ETFs
Today, with the launch of Ethereum and Bitcoin ETFs, China AMC reportedly initiated an offering period (IOP) with a scale of $142 million, comprising HK$950 million for the Bitcoin ETF and HK$160 million for the Ethereum ETF.
China AMC (HK) CEO Tian Gan remarked, “We have witnessed top-down momentum pushing Hong Kong to become a global hub for Web3.0. This authority endorsement is pivotal as it underscores Hong Kong’s competitive advantage in the global virtual assets sector.”
Gan further emphasized, “We are fully embracing the mainstream transition of virtual assets by developing differentiated investment offerings to help clients achieve their investment goals in this new asset class.”
