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- Following the launch of Spot Bitcoin and Ether ETFs in Hong Kong, ChinaAMC’s IOP scale totals approximately $142 million.
- The IOP scale of the ChinaAMC Hong Kong Bitcoin ETF today is HK$950 million, and the ChinaAMC Ethereum ETF’s is HK$160 million.
- ChinaAMC executive Zhu Haokang has been confident that the company’s fund will be the largest issuer among the three in terms of size.
Fund management company ChinaAMC has reportedly exhibited a remarkable IOP (initial offering period) scale, totaling approximately US$142 million. As per Chinese crypto reporter Colin Wu’s X post on Wu Blockchain page, ChinaAMC Hong Kong Bitcoin ETF’s IOP scale today is HK$950 million, while the IOP scale for ChinaAMC Ethereum ETF is HK$160 million.
ChinaAMC said its IOP (initial offering period) scale today is: HK$950 million for ChinaAMC HongKong Bitcoin ETF; HK$160 million for ChinaAMC Ethereum ETF, totaling approximately US$142 million. Bitcoin ETF is about 6x larger than Ethereum. https://t.co/9hgicVWsKc— Wu Blockchain (@WuBlockchain) April 30, 2024
With the debut of Spot Bitcoin and Ether ETFs in Hong Kong, the demand for exchange-traded funds is evident. Wu’s post highlighted that the IOP scale of Bitcoin ETF was 6x larger than that of the Ether ETF.
In a recent interview, ChinaAMC executive Zhu Haokang shared his bullish beliefs on the company’s ETFs, asserting that the firm’s fund will be the largest issuer among the three in terms of size. Commenting on the uniqueness of the company’s fund, Haokang added,
“The first difference is that, unlike the U.S. Bitcoin spot ETF, we have spot and physical subscription and redemption. Additionally, Huaxia’s products differ from the other two in two ways: Huaxia Fund’s Hong Kong spot ETF is the only one with counters in Hong Kong dollars, U.S. dollars, and renminbi. Secondly, besides the listed shares, we have unlisted shares. These are features the other two do not have.”
Further, Haokang reiterated his confidence in the initial listing scale of Hong Kong’s virtual asset spot ETF. He stated that it would exceed the issuance scale of the United States’ ETFs on the first day. While the issuance scale of the 10 Bitcoin ETF issuers in the US was $125 million, Haokang is confident that Hong Kong will surpass that scale. He posited, “The details will be revealed to everyone at 9:30 tomorrow morning.”
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