Hong Kong's Victory Securities Unveils Fees for Bitcoin and Ethereum ETFs Amid Regulatory Developments

Victory Securities, a Hong Kong-based investment firm, has revealed its proposed fees for Bitcoin and Ethereum exchange-traded funds (ETFs) despite the Securities and Futures Commission (SFC) of Hong Kong not yet publishing an approved list of ETF issuers. If approved by the SFC, investors will face proposed fees ranging from 0.5% to 1% of the total transaction for purchasing ETF shares in the primary market, with a minimum fee of $850. For transactions in the secondary market, online trades will incur a fee of 0.15%, while telephone transactions will have a fee of 0.25%. These fees are comparable to those set by United States asset managers offering spot Bitcoin ETFs, with Grayscale Bitcoin Trust (GBTC) notably imposing a higher fee at 1.5%. Hong Kong's recent approval of spot ETFs for Bitcoin and Ether has drawn praise and caution from industry players, with offshore Chinese asset managers planning to launch their own spot Bitcoin and Ether ETFs soon. However, mainland China investors may face restrictions due to regulations barring them from buying virtual assets.