Zhu Haokang, Head of Digital Asset Management and Family Wealth at China Asset Management (China AMC), has expressed his belief that the launch of spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong could surpass the records set in the US. Following the approval of 11 spot bitcoin ETFs on January 10, there is now speculation about the potential demand for these ETFs in the region. Zhu Haokang anticipates that the initial trading day in Hong Kong could see volumes surpass those experienced in the US. In an interview with Beijing’s Foresight News, Zhu Haokang discussed the distinctions between his firm’s fund and its competitors. He highlighted that unlike the US Bitcoin spot ETF, China AMC’s fund offers spot and physical subscription and redemption. Additionally, their Hong Kong spot ETF is the only one with counters in Hong Kong dollars, US dollars, and renminbi, and they also have unlisted shares, which the other funds do not have. Wayne Huang, the Head of ETF and Custody Business at OSL, explained that offering a physical subscription is an innovation for Hong Kong ETFs compared to US ETFs. However, Bloomberg’s senior ETF analyst, Eric Balchunas, has commented that his team estimates they would be “lucky to get” total flows of about $500 million.
