The ETFs, launched by MicroBit Capital Management, track the US dollar prices of their underlying cryptocurrencies – bitcoin and ether
Two spot bitcoin and ether exchange-traded funds (ETFs) debuted in Hong Kong on Thursday, with the small trading volumes pointing to cautious investor appetite, in contrast with the market euphoria that followed the city’s unveiling of new stablecoin rules.
The ETFs, launched by Hong Kong-based MicroBit Capital Management, track the US dollar prices of their underlying cryptocurrencies – bitcoin and ether – the world’s two largest digital tokens.
The bitcoin spot ETF, listed under stock code 3430, climbed as high as HK$7.84 (US$1.07) before closing 0.2 per cent lower at HK$7.80. The ether spot ETF, listed under stock code 3425, rose 2.4 per cent to HK$8 on Thursday.
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