Tiger Brokers To Launch Zero-Commission Trading For Bosera HashKey, China Asset Management, And Harvest Spot Crypto ETFs
In Brief
Tiger Brokers’ TigerTradeApp will become accessible on April 30th, providing Hong Kong users with access to six spot crypto ETFs.
NASDAQ-listed Hong Kong online broker Tiger Brokers announced that its TigerTradeApp will become accessible to all Hong Kong customers starting April 30th. The application will provide users with zero-commission trading and waive the platform fees for transactions for the first six virtual asset spot exchange-traded funds (ETFs) issued in Hong Kong.
These platforms encompass Bosera HashKey Bitcoin ETF, Bosera HashKey Ethereum ETF, China Asset Management Bitcoin Spot ETF, China Asset Management Ethereum ETF, Harvest Bitcoin Spot ETF, and Harvest Ethereum Spot ETF.
Xu Yang, a partner at Tiger International Group, said in a written statement that the introduction of new virtual asset investment products that adhere to regulations in the Hong Kong capital market is a huge achievement. The new introduction is expected to broaden the scope of investment opportunities in Hong Kong and potentially attract more capital, thus enriching the overall breadth and depth of the local market.
Hong Kong Approves Multiple Spot Bitcoin And Ethereum ETFs Amidst Growing Crypto Interest
Hong Kong authorities granted the approval for multiple spot Bitcoin and Ethereum ETFs managed by China Asset Management, Harvest Global, Bosera and HashKey earlier this month.
ETF analysts at Bloomberg Intelligence forecasted that the Hong Kong spot cryptocurrency-related ETFs could collectively amass approximately $1 billion in assets under management within the initial year or two after the launch. While it’s anticipated that Hong Kong’s investment products will likely attract less capital compared to those offered in the United States by financial giants such as BlackRock and Fidelity, the approval marks a positive step forward. Hong Kong seems to be positioning itself as a hub for digital assets.
Furthermore, in contrast to the United States, where the spot Bitcoin ETFs are currently trading are classified as “cash-only,” the newly listed funds in Hong Kong will adopt the “in-kind” model. This approach is expected to simplify the process for investors, reducing both complexities and costs.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
