Hong Kong-based investment firm Victory Securities has revealed its proposed fees for Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) following the recent approval of cryptocurrency ETF products in the region. The Hong Kong Securities and Futures Commission (SFC) has not yet published the list of approved ETF issuers, but if Victory Securities’ proposal is approved, customers will face fees of 0.5% to 1% of the total transaction, with a minimum fee of $850 for Ethereum and Bitcoin ETF shares in the primary market. For buying and selling existing ETF shares on the secondary market, online transactions will incur a fee of 0.15% and telephone transactions will incur a fee of 0.25%. These fees are comparable to those set by US asset managers offering spot Bitcoin ETFs. However, the Grayscale Bitcoin Trust (GBTC) imposes a higher fee of 1.5%. Hong Kong has become the latest country to approve spot ETFs for Bitcoin and Ether, with three offshore Chinese asset managers planning to launch their spot Bitcoin and Ether ETFs soon. While the approval has received praise from the crypto community, some are skeptical about the success of ETFs in the region, as mainland China investors are prohibited from buying virtual assets.
Victory Securities, a Hong Kong investment firm, discloses fees for Bitcoin and Ether ETFs.