ChainCatcher news, according to Reuters, two sources said that the Qatar Sovereign Wealth Fund has agreed to purchase a 10% stake in China’s second-largest mutual fund company, Huaxia Fund. The sources stated that the Qatar Investment Authority (QIA) will buy the shares of Huaxia Fund from the investment firm Primavera Capital.The sources declined to disclose the financial details of the transaction, but Citic Securities, which owns approximately 62% of Huaxia Fund, stated in March that it had decided to waive its right to purchase the 10% stake currently held by Primavera, valued at no less than $490 million.The proposal from the Qatar Sovereign Fund has been submitted for approval by Chinese regulatory authorities, and if approved, the transaction will make the Qatar Investment Authority the third-largest shareholder of Huaxia Fund.

ChainCatcher news, according to official sources, Huaxia Fund's products in Hong Kong, including Bitcoin ETF and Ethereum ETF, have been included in Hong Kong's new capital investor entry program.

ChainCatcher news, according to the South China Morning Post, at the Bitcoin Asia conference held in Hong Kong, the managers of Harvest International and Huaxia Fund both stated that they are advancing the collateralization of ETF products in Hong Kong, allowing investors to use ETF shares as loan collateral.Previously, Harvest International's CEO Han Tongli recently stated that the company is considering allowing mainland investors to directly invest in its Bitcoin and Ethereum ETF products through the Stock Connect program in the future, provided that "everything goes smoothly" in the next two years.

ChainCatcher news, Han Tongli, CEO of Harvest International, revealed that the company is preparing to issue collateralized financial products based on cryptocurrency spot ETFs. The current goal is to achieve the highest trading volume for its cryptocurrency spot ETF in Hong Kong by the end of this year. Data shows that the first-day trading volume of Harvest International's cryptocurrency spot ETF ranked second among three fund companies, with ChinaAMC ranking first.Han Tongli stated that due to skepticism about Hong Kong's commitment to virtual assets, many investors are still on the sidelines, which puts pressure on the trading volume of cryptocurrency spot ETFs. However, Han Tongli added that he is confident that Hong Kong's cryptocurrency ETFs can grow to twice the size of products in the United States, although he did not mention when this milestone could be achieved.

ChainCatcher news, as of May 3, the latest asset management scale (AUM) data for virtual asset ETFs from the Hong Kong Stock Exchange shows:Huaxia Ethereum ETF asset management scale reached HKD 146.16 million, Huaxia Bitcoin ETF reached HKD 880.25 million, totaling over HKD 1 billion, reaching HKD 1.02641 billion;Bosera HashKey Ethereum ETF asset management scale is HKD 96.59 million, Bosera HashKey Bitcoin ETF reached HKD 478.09 million, totaling HKD 574.58 million;Harvest Ethereum ETF asset management scale is HKD 89.97 million, Crypto Bitcoin ETF is HKD 449.39 million, totaling HKD 539.36 million.

ChainCatcher news, according to the Hong Kong stock market, as of 12:00 UTC+8 at the morning close, the total trading amount of the first batch of 6 Bitcoin and Ethereum spot ETFs launched in Hong Kong has exceeded 49 million HKD, totaling 49.44 million HKD, and is about to break the 50 million HKD mark.Among them, Bosera HashKey Bitcoin ETF (3008.HK) had a trading amount of approximately 3.6 million HKD, Bosera HashKey Ethereum ETF (3009.HK) reached 1.53 million HKD, Huaxia Bitcoin ETF (3042.HK) reached 22.98 million HKD, Huaxia Ethereum ETF (3046.HK) reached 11.03 million HKD, Harvest Bitcoin Spot ETF (3439.HK) reached 8.12 million HKD, and Harvest Ethereum Spot ETF (3179.HK) reached 2.18 million HKD.

ChainCatcher news, Huaxia, Bosera HashKey, and Jiashi's 6 virtual asset spot ETFs have all fallen below their issue prices during trading. As of the time of this article, the Huaxia Bitcoin ETF (3042.HK) is currently priced at 8 HKD, with an opening price of 8.08 HKD; the Huaxia Ethereum ETF (3046.HK) is currently priced at 7.835 HKD, with an opening price of 7.95 HKD; the Jiashi Bitcoin spot ETF (3439.HK) is currently priced at 8.03 HKD, with an opening price of 8.115 HKD; the Jiashi Ethereum spot ETF (3179.HK) is currently priced at 7.85 HKD, with an opening price of 7.97 HKD; the Bosera HashKey Bitcoin ETF (3008.HK) is currently priced at 49.86 HKD, with an opening price of 50.54 HKD; the Bosera HashKey Ethereum ETF (3009.HK) is currently priced at 24.9 HKD, with an opening price of 25.34 HKD.

ChainCatcher news, according to Zhitong Finance, Zhu Haokang, head of digital asset management and family wealth at Huaxia (Hong Kong), stated that apart from Grayscale, the remaining 10 U.S. Bitcoin spot ETF issuers had a total issuance scale of $125 million on the first day, January 10 of this year. The three issuers in Hong Kong will exceed this figure, with Huaxia Fund being the largest among them.Compared to the U.S., Hong Kong's spot ETFs allow for cash and physical subscriptions or redemptions. Huaxia's ETF is the only one that offers three currencies: USD, HKD, and RMB, and it is also the only ETF issuer with non-listed shares. Many traditional crypto asset investors have actively participated in its IOP (Initial Offering) phase. Bitcoin miners, investors from regions outside Hong Kong such as Singapore and the Middle East, and local family offices are all interested in investing in its ETF.Analysts expect that the asset management scale of spot Bitcoin and Ethereum ETFs in Hong Kong could reach $1 billion in the future, but whether this goal can be achieved may depend on the speed of improvements in infrastructure and the ecosystem.

ChainCatcher news, three major Chinese fund companies, Huaxia Fund, Harvest International, and Bosera Fund, have each been granted a Bitcoin and Ethereum spot ETF by the Hong Kong Securities and Futures Commission this week. According to the product summary, Huaxia's ETF has the highest annual expense ratio at 1.99%; Harvest and Bosera's ETFs have annual expense ratios of 1% and 0.85%, respectively, which are still generally higher compared to the Bitcoin spot ETFs issued in the United States.It is understood that Huaxia's higher expense ratio partly reflects the fact that the firm has purchased insurance for related assets valued at $1 billion. The Bitcoin and Ethereum spot ETFs issued by Huaxia charge a management fee capped at 0.99% of AUM, with internal assessments indicating that the actual fee could be reduced to 0.65%. Bloomberg ETF analyst James Seyffart believes that Harvest's waiver of management fees for 6 months, combined with the lowest fees, makes it very likely that Hong Kong fund companies will trigger a fee reduction war.

ChainCatcher news, Huaxia Fund (Hong Kong) has received approval from the Hong Kong Securities and Futures Commission to provide virtual asset management services and is now planning to issue ETF products that can invest in Bitcoin spot and Ethereum spot.Huaxia Fund (Hong Kong) is conducting research and deployment in collaboration with its partner OSL Digital Securities Limited and the custodian Bank of China International (UK) Trust Limited. In addition, OSL is the exclusive trading and custody partner for Huaxia Fund's Bitcoin and Ethereum spot ETFs launched in Hong Kong.

ChainCatcher news, Huaxia Fund's Hong Kong public account stated that it has signed a memorandum of cooperation with HashKey Exchange and Hamsa to bring high-quality innovative products to the Hong Kong market.