Ethereum

April

Million

<p><em><strong>With the opening of ETF products backed on ETH and BTC on the Hong Kong Stock Exchange, the popular asset management firm, ChinaAMC (HK) listed its ETF products on Ethereum and Bitcoin on April 30.&nbsp;</strong></em></p>
<p>China Asset Management Limited’s Hong Kong (ChinaAMC (HK)) subsidiary, which was established in 2008, is a leading and most popular Chinese asset manager in Hong Kong. ChinaAMC (HK) is the fully owned subsidiary of China Asset Management Co. Limited. The parent company is one of the most trusted asset managers and largest ETF provider in Mainland China.</p>
<p>As of December 31, 2023, the company had more than $300 Billion in assets under management. With the successful functioning of their ETF products in Mainland China. The Hong Kong subsidiary has launched ETF products in the country as BTC and ETH got approval for spot Bitcoin and Ethereum ETFs in Hong Kong.</p>
<p>On April 29, China Asset Management (Hong Kong) announced the launch of its two crypto backed ETF products in Hong Kong, namely the ChinaAMC Bitcoin ETF with Stock Code: 3042.HK/9042.HK/83042.HK and the ChinaAMC Ether ETF with stock Code: 3046.HK/9046.HK/83046.HK. Both of these ETF products will get listed on Hong Kong stock exchange starting from April 30, 2024.</p>
<h2 class="wp-block-heading" id="strong-objectives-of-btc-and-eth-etf-strong"><strong>Objectives Of BTC And ETH ETF</strong></h2>
<p>The Bitcoin and Ether ETF will track the performance of the two most popular crypto currencies, Bitcoin and Ether. This tracking will be similar as measured by the performance of the CME CF Bitcoin Reference Rate (APAC variant) and the EME CF Ether-Dollar Reference Rate (APAC variant), respectively, before charging fees and expenses.</p>
<h2 class="wp-block-heading" id="strong-product-overview-strong"><strong>Product Overview</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/a60A2qxNFwgDixRTOYBIaeiKbYqu5lruom89T08eYND-b1eayY6kSGObkl0vwtuErteIVrvA2sDXDoMcjmAQc8kPpr8ING2MirOmXls6d5TiL5S7r5HuuVE9peFsCyYW1Tx4I_2m2ocA9mqlZwyBB5k" alt="">
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/0PQJ64S4xNwMGsXj3kVGWt442UOecnJQEQ9U5vT007TWewtlQ7jkv395l6Z4p7WXCzFcAk_O426Ah8vSajG9VFs_dlrAg5zHLvOSXTLxNj-A2x_VS7GDMauzgud8YNBcCAuEpQ2slZMsXxBM-20g2aQ" alt="">
  <figcaption class="wp-element-caption">
   Source: chinaamc.com
  </figcaption>
 </figure>
</div>
<p>Both of these instruments will charge a management fee of 0.99% annually.</p>
<h3 class="wp-block-heading" id="strong-chinaamc-ethereum-etf-strong"><strong>ChinaAMC Ethereum ETF</strong></h3>
<p>ChinaAMC ETH ETF has been listed on<a href="https://www.thecoinrepublic.com/2024/04/15/hong-kong-approves-spot-bitcoin-and-ethereum-exchange-traded-funds/" target="_blank" rel="noopener noreferrer nofollow"> Hong Kong Stock Exchange</a> (HKEX) with the ticker CAM ETH (3046), opened trading today at HK$ 7.950 and previously closed at HK$ 7.830 (off the market). However, at the time of writing, it was trading at HK$ 7.770, 0.77% down from the open. The intraday price range for the ETF is HK$ 7.770 and HK$ 7.985. It has a volume of 1.60 Million and a turnover of HK$12.66 Million.</p>
<p>At the same time, it offered a trading spread of 140 basis points (bps).</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/BQzZ52fEV8O-RIXC8_WfEyV293N59QovT16yTaQt45QMiSZk522uHleW0LGbl8AnHRzVup1Vl0_9ZzVLO9IxEEBQ13NKtkpbTDFmqEYJvroD8Jga3SqkeKb7LumZVIpD3-e_NwLtu5GqzznV6_bFT6s" alt="">
  <figcaption class="wp-element-caption">
   Source: hkex.com
  </figcaption>
 </figure>
</div>
<p>Looking at the above trendline, the ETF followed a declining trend in the very first trading session. The steepness of the graph can suggest a further decrease in the prices.</p>
<h3 class="wp-block-heading" id="strong-chinaamc-bitcoin-etf-strong"><strong>ChinaAMC Bitcoin ETF</strong></h3>
<p>The Bitcoin based ETF of ChinaAMC has been listed on the Hong Kong Stock Exchange with the ticker CAM BTC (3042) and has opened its trading window at a price of HK$ 8.080 on April 30, while the previous off-market session closed at HK$ 7.830. It has been trading in the range of HK$ 7.920 and HK$ 8.130 for the day.</p>
<p>At the time of writing, it was trading at HK$7.950, experiencing an increase of 1.53%. It has a narrow bid-ask spread of just 60 bps. The trading volume stands at 4.63 Million and the turnover is HK$ 37.16 Million.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/uhZZAniZoXkksas-m3wzJRsu-kmrCv4EUwaeRsdwZya_PgRcZApx1jwQxPJbOdBgsBgCfxnN9bAAm9lYB0dArLAl2xT6rR__0jb8W0ft4t8y6xZu1slCjofQblkW90Y6c8ChOWXMHvynH93lGHzOlPE" alt="">
  <figcaption class="wp-element-caption">
   Source: hkex.com
  </figcaption>
 </figure>
</div>
<p>This is also following a declining trend but with a lower slope; that is, it is observing a comparatively flatter price trend confirmed by the increase in the prices so it can revert the graph in the near term.</p>

China AMC BTC And ETH ETFs Getting Positive Acceptance In HKEX

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Thecoinrepublic.com

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