Bittime - Hong Kong investment firm Victory Securities revealed fees for their Bitcoin and Ethereum ETF, although the Hong Kong authorities (SFC) have not published an official list of ETF issuers.
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Victory Securities Reveals ETF Fee Structure
While the Hong Kong Securities and Futures Commission (SFC) has not released an official list of ETF issuers, Victory Securities has reportedly disclosed fee details to investors for its Bitcoin (BTC) and Ethereum (ETH) ETF products. This announcement comes after the region approved the launch of a crypto ETF product.
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If approved by the SFC, Victory Securities' proposed fee for initial purchases of Ethereum and Bitcoin ETF shares in the primary market is between 0.5% to 1% of the total transaction, with a minimum fee of $850. This information is based on a translation of a report shared by Wu Blockchain on April 20.
Fees for Secondary Transactions
For investors interested in buying and selling existing ETF shares on the secondary market, the fee will be 0.15% for online transactions and 0.25% for telephone transactions. These fees are in the range equivalent to fees set by United States asset managers offering physical (spot) Bitcoin ETFs .
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In comparison, United States asset manager fees vary and some are waived until the end of this year. Franklin Templeton sets fees at 0.19%, while other ETFs peg fees between 0.20% to 0.90%. Meanwhile, Grayscale Bitcoin Trust (GBTC) charges much higher fees at 1.5%.
Hong Kong and the Future of Crypto ETFs
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Previously, Cointelegraph reported on April 15 that Hong Kong became the latest country to approve physical ETFs for Bitcoin and Ether. At least three Chinese offshore asset managers, including the Hong Kong units of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC), plan to launch their physical Bitcoin and Ether ETFs soon.
Despite a positive reception from many in the crypto community, including the local Hong Kong exchange, others still doubt the ETF's success in the region.
Bloomberg ETF analyst Eric Balchunas stated in an April 17 post that “Mainland Chinese investors are likely ineligible to purchase physical Bitcoin and Ether ETFs listed in Hong Kong because they are prohibited from purchasing virtual assets.”
How to Buy Ethereum (ETH) from Bittime
You can buy and sell Ethereum (ETH ) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH )is available on Bittime with the market pair Ethereum (ETH )To be able to buy Ethereum (ETH )on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH ) on Bittime .
Monitor price chart movements for Ethereum (ETH ) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read also:
What are the 11 Bitcoin ETFs Approved by the SEC?
What is a Crypto ETF and What Are Its Advantages?
Bitcoin : SEC Green Signal For Bitcoin Spot ETF
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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