Hong Kong has officially launched its first batch of spot cryptocurrency ETFs in 2025. A total of six spot ETFs, covering both Bitcoin and Ether, are now trading on the Hong Kong Stock Exchange. These products are issued by three major asset management firms: Bosera International, ChinaAMC (Hong Kong), and Harvest Global Investments. This guide offers a detailed comparison of these ETFs, covering their entry costs, management fees, assets under management, and issuer backgrounds.
An Overview of Hong Kong’s Spot Crypto ETFs
Bitcoin Spot ETFs Listed in Hong Kong
- Bosera Bitcoin ETF (Stock Code: 03008)
- ChinaAMC Bitcoin ETF (Stock Code: 03042)
- Harvest Bitcoin ETF (Stock Code: 03439)
Ether Spot ETFs Listed in Hong Kong
- Bosera Ether ETF (Stock Code: 03009)
- ChinaAMC Ether ETF (Stock Code: 03046)
- Harvest Ether ETF (Stock Code: 03179)
A Full List of Hong Kong’s Crypto ETFs (Spot + Futures)
As of March 2025, there are nine cryptocurrency ETFs listed in Hong Kong. The following table provides a clear comparison of their entry costs and management fees (all figures in HKD).
Comparison of Fees and Entry Costs
| ETF Name | Stock Code | Approx. Entry Cost Per Board Lot | Management Fee |
|---|---|---|---|
| Bosera Bitcoin ETF (Spot) | 03008 | 682 | 0.60% |
| Bosera Ether ETF (Spot) | 03009 | 169 | 0.60% |
| ChinaAMC Bitcoin ETF (Spot) | 03042 | 1,089 | 0.99% |
| ChinaAMC Ether ETF (Spot) | 03046 | 525 | 0.99% |
| Harvest Bitcoin ETF (Spot) | 03439 | 1,096 | 0.30% |
| Harvest Ether ETF (Spot) | 03179 | 531 | 0.30% |
| FA Samsung Bitcoin (Futures) | 03135 | 1,522 | 0.89% |
| FA南方以太幣 (Futures) | 03068 | 1,074 | 1.99% |
| FA南方比特幣 (Futures) | 03066 | 3,074 | 1.99% |
Assets Under Management (AUM)
The following list shows the assets under management for each fund, highlighting the varying levels of investor interest.
- ChinaAMC Bitcoin ETF (03042): HKD 1.558 billion
- Bosera Bitcoin ETF (03008): HKD 1.112 billion
- Harvest Bitcoin ETF (03439): HKD 245 million
- ChinaAMC Ether ETF (03046): HKD 172 million
- Bosera Ether ETF (03009): HKD 113 million
- FA南方比特幣 (Futures) (03066): HKD 479 million
- FA南方以太幣 (Futures) (03068): HKD 127 million
- FA Samsung Bitcoin (Futures) (03135): HKD 116 million
- Harvest Ether ETF (03179): HKD 53 million
How to Invest in Hong Kong Bitcoin ETFs
Investing in these approved spot and futures Bitcoin and Ether ETFs is designed to be straightforward. They can be bought and sold seamlessly through any standard Hong Kong stock brokerage account, making the process as simple as trading any other Hong Kong-listed stock.
Most major international and local brokers that offer Hong Kong market access will support trading for these new crypto ETFs.
The Significance of Hong Kong's Spot Bitcoin ETFs
The launch of spot cryptocurrency ETFs is a landmark event for Hong Kong's financial market. The CEO of Hong Kong Exchanges and Clearing Limited (HKEX) noted that the introduction of these products aims to attract a broader base of investors and enhance overall market liquidity.
However, it is widely recognized that the Hong Kong market's scale and the depth of its virtual asset platforms are not yet on par with those in the United States. Consequently, while significant, the immediate inflow of capital following the launch may not mirror the massive surge seen with the introduction of U.S. spot Bitcoin ETFs.
This move is widely viewed as a forward-thinking step in financial innovation. As the CEO of Harvest Global Investments stated, it reflects Hong Kong's commitment to enhancing transparency and efficiency in the digital asset space, thereby boosting investor confidence. A wealth management head at ChinaAMC (Hong Kong) also emphasized that these spot ETFs provide a secure, efficient, and convenient tool for investors to gain exposure to crypto assets.
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How Spot ETFs Work: The Role of Custodians
A key difference between spot and futures ETFs is that a spot ETF physically holds the underlying asset. This means a spot Bitcoin ETF must hold real Bitcoin, and a spot Ether ETF must hold real Ether.
To safeguard these assets, ETF issuers must partner with licensed virtual asset exchanges that provide custodial services. The partnerships for the new Hong Kong spot ETFs are as follows:
| ETF Issuer | Custodian Partner |
|---|---|
| Bosera International | HashKey Exchange |
| ChinaAMC (Hong Kong) | OSL Exchange |
| Harvest Global | OSL Exchange |
Background on the Three ETF Issuers
1. Bosera International
Established in 1998, Bosera Fund Management was one of China's first five asset management companies. Its Hong Kong subsidiary, Bosera International, was founded in 2010. It has grown to become one of the largest Chinese asset managers in Hong Kong, serving a global client base. As of late 2022, its parent company reported assets under management of approximately RMB 1.5 trillion.
2. ChinaAMC (Hong Kong)
China Asset Management Co. (ChinaAMC) was also founded in 1998 and is another leading fund manager in China. Its Hong Kong subsidiary was established in 2008. It was a pioneer as one of the first Renminbi Qualified Foreign Institutional Investor (RQFII) managers and the first Chinese asset manager to be granted a mandate to manage overseas investments for Chinese insurance companies. Its total AUM reached RMB 1.9 trillion by the end of 2023.
3. Harvest Global Investments
Harvest Fund Management was established in 1999. Its international arm, Harvest Global Investments, was set up in Hong Kong in 2008. It gained early recognition in 2012 as one of the first companies to launch an RQFII ETF. The firm is known for its innovation in financial products. The parent company's total AUM was reported to be around RMB 1.6 trillion at the end of 2024.
Frequently Asked Questions
What is a Bitcoin ETF?
A Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin. It allows investors to gain exposure to Bitcoin's price movements without the complexities of directly buying, storing, and securing the cryptocurrency themselves. They are traded on traditional stock exchanges.
How do I buy a spot Bitcoin ETF in Hong Kong?
You can purchase these ETFs through any brokerage platform that offers access to the Hong Kong Stock Exchange. The process is identical to buying shares of any other company listed in Hong Kong. You simply need to search for the ETF's stock code within your trading platform.
What is the difference between a spot ETF and a futures ETF?
A spot ETF holds the actual physical cryptocurrency (e.g., Bitcoin) in its reserve. A futures ETF, on the other hand, holds contracts that derive their value from the future price of Bitcoin. Spot ETFs are generally considered to track the underlying asset's spot price more closely.
Why are the management fees different for each ETF?
Management fees vary based on the issuer's pricing strategy, the costs associated with their custody solutions, and their target clientele. Some issuers may compete on price, while others may emphasize their brand reputation or additional services.
Are there any risks involved with investing in crypto ETFs?
Yes. Like all investments, crypto ETFs carry risk. Their value is directly tied to the highly volatile cryptocurrency markets. Additionally, while they mitigate certain risks like self-custody, they introduce counterparty risk (reliance on the issuer and custodian) and regulatory risks specific to the region.
Can international investors buy these Hong Kong-listed ETFs?
This depends on the regulations of the investor's home country and the services offered by their brokerage. International investors should check with their broker to confirm access to the Hong Kong market and any specific restrictions that may apply.