Increasing Investment Opportunities in China
China Asset Management Co. has recently introduced new exchange-traded funds (ETFs) for Bitcoin and Ethereum, offering a fresh avenue for Chinese currency holders to diversify their investment portfolios. In an interview with Bloomberg, China AMC CEO Yimei Li emphasized the significance of these ETFs, stating that they mark a major breakthrough in broadening access to cryptocurrency investments for mainland Chinese investors. Despite cryptocurrency trading being prohibited in mainland China, Li noted that the launch of the ETFs presents a new opportunity for RMB holders to engage in this evolving market.
- Li expressed her optimism for the future, mentioning that there could be further opportunities for mainland Chinese investors to participate in cryptocurrency investments down the line.
“The official launch of the ETFs opens the door for a lot of RMB holders,” – Yimei Li
Diversified Investment Options and Market Potential
According to an official announcement from China AMC on April 29, the newly introduced ETFs offer enhanced flexibility for investors, enabling both cash and in-kind transactions. These funds support trading in USD, HKD, and RMB, covering both listed and unlisted shares. Notably, they are the sole Bitcoin and Ethereum ETFs featuring a Chinese yuan trading counter.
- Li optimistically stated, “As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors.”
“As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors,” – Yimei Li
With the launch of Ethereum and Bitcoin ETFs, China AMC has kicked off with an initial offering period (IOP) scale amounting to $142 million. The Bitcoin ETF saw an allocation of HK$950 million, while the Ethereum ETF was allocated HK$160 million.
“We have witnessed top-down momentum pushing Hong Kong to become a global hub for Web3.0, this authority endorsement is pivotal as it underscores Hong Kong’s competitive advantage in the global virtual assets sector,” – Tian Gan, China AMC (HK) CEO
China AMC (HK) CEO Tian Gan highlighted the growing momentum in positioning Hong Kong as a leading center for Web3.0 technology. Gan emphasized the importance of regulatory support in enhancing Hong Kong’s position in the global virtual assets industry. By developing innovative investment solutions, China AMC aims to facilitate clients in achieving their financial objectives within this emerging asset class.
“We are fully embracing the mainstream transition of virtual assets by developing differentiated investment offerings to help clients achieve their investment goals in this new asset class,” – Tian Gan
