According to reports, Victory Securities has unveiled its fee structure for Bitcoin and Ethereum ETF shares in the primary market, which would range from 0.5% to 1% of the total transaction, with a minimum fee of $850. These proposed fees were shared by Wu Blockchain on April 20.

For investors looking to trade existing ETF shares on the secondary market, Victory Securities has set fees at 0.15% for online transactions and 0.25% for telephone transactions.

These fee rates are comparable to those offered by United States asset managers for spot Bitcoin ETFs, with Franklin Templeton setting its fee at 0.19% and others ranging between 0.20% and 0.90%. However, the Grayscale Bitcoin Trust (GBTC) imposes a higher fee at 1.5%.

Hong Kong recently approved spot ETFs for Bitcoin and Ether, making it the latest country to do so. Offshore Chinese asset managers, including Hong Kong units of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC), are planning to launch their spot Bitcoin and Ether ETFs soon.

While the approval was welcomed by many in the crypto community and local Hong Kong exchanges, some expressed skepticism about the ETF’s success within the region. Bloomberg ETF analyst Eric Balchunas noted that mainland China investors may not be eligible to purchase Hong Kong-listed spot Bitcoin and Ether ETFs due to restrictions on buying virtual assets.

The post Hong Kong ETF Fees Revealed by Victory Securities, Despite Unconfirmed Issuers appeared first on Coin Engineer.

China Asset Management (ChinaAMC) and Harvest Global, among other asset managers, are preparing to introduce spot Bitcoin ETFs in Hong Kong. Patrick Pan, president and CEO of OSL, stated that these products may be available to investors by the end of April, pending final approval.

The recent approval in principle by the Hong Kong Securities and Futures Commission (SFC) has paved the way for these developments. OSL sees this regulatory milestone as a positive step for the industry, bringing spot crypto ETFs closer to reality.

Katie He, head of product and strategy at ChinaAMC (HK), expects significant demand for upcoming spot crypto ETFs. While only professional investors in Hong Kong currently have access to U.S.-listed spot ETFs, introducing spot products in Hong Kong will expand access to a broader audience, She noted. Additionally, investors will have multiple options for exposure to cryptocurrency, including spot bitcoin on SFC-licensed virtual asset trading platforms (VATPs) and futures-based bitcoin or ether ETFs.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Chinese Firms on Hong Kong Prepares for ETF’s appeared first on Coin Engineer.

Shiba Inu Market Lead Injects Optimism

While the broader cryptocurrency market experiences significant price swings, Lucie, Shiba Inu’s market lead, has maintained a reassuring stance. Her recent comments directly address concerns about a potential sell-off, emphasizing her faith in the market’s ability to bounce back.

In a recent post, Lucie stated: “Dips and dumps will happen even in a bull market, especially before the Hong Kong ETF or any other ETF comes into play.” This statement reflects her confidence in upcoming developments within the cryptocurrency landscape, particularly the highly anticipated approval of Spot Bitcoin and Ethereum ETFs in Hong Kong.

Hong Kong ETF Approval Fuels Excitement

The potential approval of Spot Bitcoin and Ethereum ETFs in Hong Kong, expected as early as April 15th, has sparked renewed optimism within the global crypto community, including SHIB holders. This development follows the successful launch of Spot Bitcoin ETFs in the United States, and its potential expansion into the Asian market is met with significant anticipation.

Market Volatility: A Double-Edged Sword

The crypto market’s inherent volatility is evident in the price fluctuations observed before the U.S. Spot Bitcoin ETF approval earlier this year. However, the Shiba Inu team’s recent remarks offer a counterpoint to the prevailing apprehension, highlighting the long-term potential despite short-term uncertainties.

Shiba Inu Price: A Snapshot

At the time of writing, the Shiba Inu price has retreated by 11.94%, currently trading at $0.00002433. However, its daily trading volume has skyrocketed by 164.45% to $1.19 billion. This past day has seen the meme coin reach a high of $0.00002776 and a low of $0.00002233, further emphasizing the ongoing market volatility.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram  ,YouTube and Twitter channels for the latest news and updates.

The post Shiba Inu Team Stays Bullish on SHIB Despite Market Downturn: Here’s Why appeared first on Coin Engineer.