Hong Kong Web3.0 in Progress

ChainCatcher news, Ding Chen, the president of Southern Asset Management Co., Ltd., stated in an interview with Bloomberg: "It's unfortunate that we were not among the first in Hong Kong to launch virtual asset ETFs, but I am pleased to see that three other peers have launched related products. We are still working hard to collaborate closely with institutions and partners to successfully launch a virtual asset spot ETF. After all, this relies not only on asset management companies but also on custodians, market makers, PDs, etc. Currently, some of our counterparties are not fully prepared. However, once we are ready, we will launch the related products."It is reported that Southern Asset Management listed Asia's first cryptocurrency ETFs on the Hong Kong Stock Exchange as early as December 2022, including the Southern Asset Management Bitcoin Futures ETF and the Southern Asset Management Ethereum Futures ETF.

ChainCatcher news, according to HODL15Capital data, the performance of Hong Kong Bitcoin ETFs on May 6 shows that the Huaxia Bitcoin ETF still leads in Bitcoin holdings, with a total of 2,062 Bitcoins; the Bosera HashKey Bitcoin ETF ranks second, holding 1,219 Bitcoins, with the fastest growth rate; the Harvest Bitcoin Spot ETF follows closely, with 1,107 Bitcoins.In addition, comparing the listing data of the three ETFs, the gap in Bitcoin holdings among the various Bitcoin ETFs is narrowing.

ChainCatcher news, Hong Kong stock market data shows that as of the market close, the trading volume of 6 Hong Kong virtual asset ETFs today reached 38.82 million HKD.Among them, the trading volume of the Huaxia Bitcoin ETF (3042.HK) was 9.8315 million HKD, the trading volume of the Huaxia Ethereum ETF (3046.HK) was 3.3942 million HKD, the trading volume of the Harvest Bitcoin ETF (3439.HK) was 18.4562 million HKD, the trading volume of the Harvest Ethereum ETF (3179.HK) was 1.3864 million HKD, the trading volume of the Bosera HashKey Bitcoin ETF (3008.HK) was 5.3497 million HKD, and the trading volume of the Bosera HashKey Ethereum ETF (3009.HK) was 402,000 HKD.In addition, according to research data from HODL15Capital, as of May 6, the Huaxia Bitcoin ETF held a total of 2,062 Bitcoins, with assets under management of 129,908,173 USD, ranking first. The Bosera HashKey Bitcoin ETF ranked second, holding 1,219 Bitcoins, with assets under management of 76,797,000 USD. The Harvest Bitcoin Spot ETF followed closely, with 1,107 Bitcoins and assets under management of 69,741,000 USD.

ChainCatcher news, according to the Hong Kong Economic Journal, the Hong Kong Monetary Authority (HKMA) has initiated a consultation on renaming "virtual banks" to "licensed digital banks" on April 30, targeting 8 virtual banks, the Hong Kong Association of Banks, the Hong Kong Association of Restricted License Banks, and the Deposit-taking Companies Association, lasting for 1 month.HKMA Vice President Yueng Kwok-hang stated in an interview that the initial naming considered the characteristic of having no physical bank, hence the name "Virtual/虚拟." However, in recent years, there have been reflections that "virtual" brings a sense of unreality, and now is an opportunity to consult the industry.

ChainCatcher news, according to the Hong Kong stock market, as of 16:00 UTC+8, the total trading amount of the first batch of 6 Bitcoin and Ethereum spot ETFs launched in Hong Kong exceeded 87.61 million HKD.Among them, the Bosera HashKey Bitcoin ETF (3008.HK) had a trading amount of 12.45 million HKD, the Bosera HashKey Ethereum ETF (3009.HK) reached 2.49 million HKD, the Huaxia Bitcoin ETF (3042.HK) amounted to 37.17 million HKD, the Huaxia Ethereum ETF (3046.HK) reached 12.66 million HKD, the Harvest Bitcoin Spot ETF (3439.HK) had a trading amount of 17.89 million HKD, and the Harvest Ethereum Spot ETF (3179.HK) reached 4.95 million HKD.

ChainCatcher news, HashKey Group Chief Operating Officer and HashKey Exchange CEO Weng Xiaoqi stated at the afternoon press conference that the ETF supports both physical subscription and fiat currency subscription models. Based on the current situation of the Bosera Hashkey Bitcoin Spot ETF and Bosera Hashkey Ethereum Spot ETF, physical subscriptions account for a larger proportion.In addition, Weng Xiaoqi also mentioned that for Web3 native users, purchasing spot ETFs is essentially a form of "TradFi mining," "mining" the value and potential of traditional markets and assets. For example, users in Hong Kong who already hold BTC and ETH can convert their original "alternative assets" into "mainstream assets" through an IN-Kind method, which can help in obtaining Hong Kong immigration status and PI status (Professional Investor), facilitating their career and life in Hong Kong.