Hong Kong-based Victory Securities discloses costs for Bitcoin and Ether exchange-traded funds


Victory Securities has revealed its costs for Bitcoin and Ethereum ETFs, even though the Hong Kong SFC has not yet published an authorized list of issuers.

Investors in Bitcoin exchange-traded funds (ETFs) may have seen the proposed fees from Hong Kong-based Victory Securities, which come after the recent acceptance of cryptocurrency ETF products in the area.

There has been no publication of the list of authorised ETF issuers by the Hong Kong Securities and Futures Commission (SFC), yet this news nevertheless arrives.

An excerpt from a translated report released by Wu Blockchain on April 20th revealed that Victory Securities’ clients would be subject to fees for Ethereum and Bitcoin ETF shares in the main market, which, if authorised by the SFC, would range from 0.5% to 1% of the whole transaction, with a minimum cost of $850.

There will be a 0.15% charge for internet transactions and a 0.25% fee for telephone transactions for investors looking to purchase and sell existing ETF shares on the secondary market.

Rates imposed by US asset managers selling spot Bitcoin ETFs are identical to these costs. While many US fees are now nonexistent, fund manager Franklin Templeton has set its charge at 0.19%, with other ETFs charging between 0.20% and 0.90%.

The 1.5% fee that the Grayscale Bitcoin Trust (GBTC) charges is much higher. Cointelegraph announced on April 15 that Hong Kong joined the list of countries that have approved spot ETFs for Bitcoin and Ethereum.

The Hong Kong branches of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC), three offshore Chinese asset managers, want to release spot Bitcoin and Ether ETFs in the near future.

However, not everyone in the crypto world was optimistic about the ETF’s prospects in the area, even if many, including local Hong Kong exchanges, were pleased with the approval.

Bloomberg ETF analyst Eric Balchunas said on X on April 17 that investors from mainland China are not allowed to purchase virtual assets, so they likely won’t be able to purchase spot bitcoin and ether ETFs listed in Hong Kong.

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