Hong Kong's first batch of virtual asset spot ETFs are listed, and some family offices plan to participate with physical Bitcoin

Asia's first batch of virtual asset spot exchange-traded funds (ETFs) are listed in Hong Kong. A family office from Singapore with an asset management scale of US$100 million said it plans to participate in transactions with physical Bitcoin. Wang Junjie, partner of Yicai Investment Fund, is responsible for managing a family office established by a mainland family in Singapore and setting up a branch in Hong Kong. Wang Junjie revealed in an interview in Hong Kong that currently about half of the assets of the relevant clients are invested in virtual assets, and the rest are invested in Hong Kong stocks and US stocks. However, since mainland clients cannot invest directly in virtual assets, they can only subscribe through institutional identities. He said that he already holds a lot of Bitcoin and has also participated in virtual asset ETF products in the United States. Hong Kong allows redemption with physical Bitcoin and allows Ethereum ETF trading, which attracts the office to invest in Hong Kong. Wang Junjie said that since the Hong Kong government issued a virtual asset policy declaration, he believes that the development of the Asia-Pacific region is more promising, and the trading platform is regulated by the Securities and Futures Commission, which will be more secure. (Hong Kong Radio Website)