Victory Securities Releases Fee Structure Guide for Hong Kong Bitcoin Ethereum Spot ETF
Victory Securities, a longstanding financial institution based in Hong Kong, has made a significant move in the world of cryptocurrency with the publication of a detailed guide on the fee structure for its new Hong Kong Bitcoin Ethereum spot ETF. This comes after the Hong Kong Securities and Futures Commission (SFC) approved the trading of spot Bitcoin and Ethereum ETFs, marking a milestone in the adoption of cryptocurrencies within traditional financial services.
The guide issued by Victory Securities outlines the fee details and subscription information for the ETF. In transactions in the primary market, investors will be charged between 0.5% to 1% on Ethereum and Bitcoin, with a minimum charge of $850. Additionally, the guide specifies the cash redemption fee in the primary market, which will range between 0.1% and 0.15% of the transaction value, with a minimum fee of $500.
For trades conducted by phone or email, a commission of 0.215% per trade will be applied, with a minimum charge of $8. On the other hand, online transactions will incur a lower commission of 0.15% per transaction, with a minimum fee of $4. This transparent fee arrangement aims to provide potential investors with clear and upfront information about all costs related to investing in the ETF.
The move by Victory Securities is seen as a significant breakthrough in the mainstream adoption of cryptocurrencies within the financial services sector in Hong Kong. By creating a regulated investment vehicle for Bitcoin and Ethereum, the firm is enabling wider access to these digital assets for both local and international investors. This move is expected to drive greater institutional adoption and interest in the cryptocurrency market.
The approval of spot Bitcoin and Ethereum ETFs by the Hong Kong Securities and Futures Commission makes Hong Kong the first jurisdiction to offer a spot Ethereum ETF. Several major financial institutions have received approvals, signaling a growing acceptance and recognition of cryptocurrency products in the region’s financial landscape.
With these ETFs, investors now have a structured and regulated way to invest directly in Bitcoin and Ethereum through an exchange. However, mainland Chinese investors are currently not permitted to participate due to the cryptocurrency ban in China. Despite this limitation, the approval of these ETFs represents a significant step towards the mainstream adoption of cryptocurrencies in the financial world.
