Victory

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Hong Kong-based investment firm Victory Securities has reportedly disclosed its proposed fees to investors for Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) exchange-traded funds (ETFs) following the recent approval of cryptocurrency ETF products within the region.
The announcement comes even though the Hong Kong Securities and Futures Commission (SFC) has not yet published the list of approved ETF issuers.
If approved by the SFC, Victory Securities’ customers will face proposed fees for Ether 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.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-04/23c8b290-f935-4077-a3e2-aa1af6bd2eda.png" alt="" title="">
 <figcaption style="text-align: center;">
 Source: Wu Blockchain
 </figcaption>
</figure>
The fees are comparable to the rates set out by United States asset managers offering spot Bitcoin ETFs. While different fees in the U.S. are waived until various times this year, asset manager Franklin Templeton has set its fee at 0.19%, while other ETFs range between 0.20% and 0.90%.&nbsp;
The Grayscale Bitcoin Trust (GBTC) imposes a notably higher fee at 1.5%.
On April 15, Cointelegraph reported that Hong Kong has become the latest country to approve spot ETFs for Bitcoin and Ether.
Related: <a href="https://cointelegraph.com/news/hong-kong-spot-bitcoin-etf-approval-draws-praise-caution-industry">Hong Kong spot Bitcoin ETF approval draws praise and caution from industry players</a>
At least <a href="https://cointelegraph.com/news/hong-kong-approves-bitcoin-ether-etfs">three offshore Chinese asset managers</a>, including Hong Kong units of Harvest Fund Management, Bosera Asset Management and China Asset Management (ChinaAMC), plan to launch their spot Bitcoin and Ether ETFs soon.
While the approval saw praise from many in the crypto community including local Hong Kong exchanges, others were more skeptical of the <a href="https://cointelegraph.com/news/hong-kong-spot-bitcoin-etf-approval-draws-praise-caution-industry">ETF's success within the region</a>.
“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 stated in an April 17 <a href="https://x.com/EricBalchunas/status/1780567960735686922" target="_blank" rel="noopener nofollow">post</a> on X.
Magazine: <a href="https://cointelegraph.com/magazine/get-bitcoin-or-die-tryin-why-hip-hop-stars-love-crypto/">Get Bitcoin or die tryin’: Why hip hop stars love crypto</a>

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

Cointelegraph

Other articles published on Apr 21, 2024

Market Mayhem Can’t Slow CHO Token: Imminent BingX Listing and Choise.ai’s Bold Innovations Enhan...

African Students Unite in Istanbul to Address Continent’s Issues

All about the state of Ethereum after Bitcoin’s halving

Ready To Fight Lands 1-2 Punch: Mike Tyson Joins as Ambassador, RTF Token Opens for Trading on th...

Unlock the Full Potential of Your Xbox with These Hidden Gem Features

David Schwartz Reinforces Dedication to Ripple and XRP Amid Speculations

Join our free newsletter for daily crypto updates!