Posted in

China AMC’s Bitcoin ETF to Open Door for Chinese RMB Investors

Hong Kong

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.

In an interview with Bloomberg, China AMC CEO Yimei Li stated that these ETFs represent a significant milestone in making cryptocurrency investments more accessible to mainland Chinese investors.

Chinese RMB Trading Counter for Potential Mainland Investors

Though crypto trading is banned in mainland China, Li said that the official launch of the ETFs “opens the door for a lot of RMB holders.”

Li also expressed her hope that there could be a “new opportunity” for mainland Chinese investors in the future to “participate in this process.”

According to an announcement, China AMC published on April 29, the new funds offer unprecedented flexibility for investors, accommodating both cash and in-kind transactions.

The company’s offering included trading counters in USD, HKD, and RMB, catering to both listed and unlisted shares. these ETFs are the only Bitcoin and Ethereum ETFs that provide a Chinese yuan trading counter.

“As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors,” said Li.

Asia’s First Bitcoin ETFs and Ethereum ETFs

With Ethereum and Bitcoin ETFs launched today, China AMC reportedly has an initial offering period (IOP) scale of $142 million, with HK$950 million for Bitcoin ETF and HK$160 million for Ethereum ETF.

“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,” said China AMC (HK) CEO Tian Gan.

“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,” said Gan.

Check other news for today and Please stand by..

*********************************

If one of the paying programs on our Monitor appeals to you, please support EmilyNews by registering for it on our website. Thanks very very much!

EN web Support Chat | Hyips and Crypto questions – HyipChatEN

Telegram Chat for Crypto and Hyip reports: @HyipChatEN

*********************************

Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook, EN Telegram, EN Twitter
or Subscribe to EN Feedburner and submit your email address!

If you like this article and want to support EN – please share it by using at least few of social media buttons below. Thanks and See you tomorrow!

Leave a Reply

Your email address will not be published. Required fields are marked *

join program here