Victory Securities, a Hong Kong-based investment firm, has revealed its proposed fees for Bitcoin and Ethereum exchange-traded funds (ETFs) following the recent approval of cryptocurrency ETF products in the region.
If approved by the Hong Kong Securities and Futures Commission (SFC), Victory Securities’ proposed fees for Ethereum and Bitcoin ETF shares in the primary market will range from 0.5% to 1% of the total transaction, with a minimum fee of $850.
For buying and selling existing ETF shares on the secondary market, online transactions will incur a fee of 0.15%, while telephone transactions will have a fee of 0.25%.
These proposed fees are comparable to rates set by United States asset managers offering spot Bitcoin ETFs, with fees ranging from 0.19% to 1.5% for GBTC.
Hong Kong recently approved spot ETFs for Bitcoin and Ether, making it the latest country to do so. Three offshore Chinese asset managers, including Hong Kong units of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC), plan to launch their spot Bitcoin and Ether ETFs soon.
While the approval received praise from many in the crypto community and local Hong Kong exchanges, there are concerns about the ETF’s success within the region. Mainland China investors may not be eligible to buy Hong Kong-listed spot Bitcoin and Ether ETFs due to restrictions on buying virtual assets.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up