Victory Securities Reveals Fee Structure for Upcoming Bitcoin and Ethereum ETFs

adminApril 23, 2024

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Victory Securities, a Hong Kong-based investment firm, recently revealed proposed fees for its upcoming Bitcoin and Ethereum exchange-traded funds (ETFs). This announcement is significant as it follows the recent approval of cryptocurrency ETF products in Hong Kong, although the Securities and Futures Commission (SFC) has not yet released a list of approved ETF issuers.

Exploring Fees: What to Expect from Hong Kong’s Latest Crypto ETFs

Investors looking to buy shares in the upcoming ETF’s primary market can expect fees ranging from 0.5% to 1% of the total transaction, with a minimum fee of $850, according to details in a translated report cited by Wu Blockchain on April 20. . Additionally, secondary market transactions are subject to a fee of 0.15% for online transactions and 0.25% for transactions made over the phone.

The fee structure set by Victory Securities closely matches that seen in the US, where asset managers have introduced spot Bitcoin ETFs with varying fees. For example, Franklin Templeton implemented a fee of 0.19%, while other companies implemented fees ranging from 0.20% to 0.90%. In contrast, Grayscale Bitcoin Trust (GBTC) charges a higher fee of 1.5%.

Exclusive: Victory Securities internally released Hong Kong Bitcoin Ethereum Spot ETF subscription guide and disclosed charging standards. Hong Kong securities firms are selling to potential clients.
The original text in the photo is in Chinese using Google Translate… pic.twitter.com/oCqlU6EoSm
— Wu Blockchain (@WuBlockchain) April 20, 2024

The excitement surrounding the approval of spot Bitcoin and Ethereum ETFs in Hong Kong makes the city the latest country to embrace these financial products. While this approval has been met with enthusiasm, especially from local exchanges and segments of the cryptocurrency community, there is some skepticism about the potential success of these ETFs within the region.

Additionally, three overseas Chinese asset managers, including Harvest Fund Management, Bosera Asset Management, and the Hong Kong branch of China Asset Management (ChinaAMC), will soon launch their own spot Bitcoin and Ether ETFs. It is expected that you are preparing. This move could potentially increase the accessibility and popularity of these digital assets in Asian markets.

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