香港比特幣現貨 ETF 將於 4 月 30 日推出，標誌著加密貨幣的里程碑

香港已將 2024 年 4 月 30 日定為比特幣和以太坊現貨交易所交易基金 (ETF) 交易的正式日期。儘管香港是中國的一個特別行政區，但它已成為一個對加密貨幣友善的司法管轄區，允許在特定法規下完全合法的加密貨幣交易。這些現貨ETF產品的批准是香港加密​​貨幣行業的重大發展，由於具有競爭力的交易費用結構，預計將吸引大量投資者。

Bitcoin Spot ETFs to Commence Trading in Hong Kong on April 30th

比特幣現貨ETF將於4月30日在香港開始交易

Hong Kong's financial authorities have announced that spot exchange-traded funds (ETFs) backed by Bitcoin and Ethereum will officially commence trading on April 30, 2024. This development marks a significant milestone in Hong Kong's embrace of cryptocurrencies and its emergence as a crypto-friendly jurisdiction.

香港金融當局宣布，由比特幣和以太坊支持的現貨交易所交易基金（ETF）將於2024 年4 月30 日正式開始交易。的一個重要里程碑。

In mid-2023, Hong Kong embarked on a path towards crypto adoption, legalizing crypto trading under specific regulatory frameworks. This stance contrasts sharply with mainland China, which has maintained a strict prohibition on crypto trading since December 2021.

2023 年年中，香港踏上了採用加密貨幣的道路，在特定的監管框架下使加密貨幣交易合法化。這一立場與中國大陸形成鮮明對比，中國大陸自 2021 年 12 月以來一直嚴格禁止加密貨幣交易。

The launch of Bitcoin and Ethereum spot ETFs in Hong Kong underscores the city's commitment to providing investors with access to the burgeoning cryptocurrency market. These ETFs offer a regulated and transparent investment vehicle for accessing cryptocurrencies, facilitating wider adoption and institutional investment.

在香港推出比特幣和以太幣現貨ETF，凸顯了香港致力於為投資者提供進入蓬勃發展的加密貨幣市場的機會。這些 ETF 為獲取加密貨幣提供了受監管且透明的投資工具，促進了更廣泛的採用和機構投資。

Industry experts anticipate that Hong Kong's spot ETF market will initially be relatively small compared to its US counterpart. ETF expert Eric Balchunas estimates that the Hong Kong market could attract up to $1 billion in investments in the long term.

產業專家預計，與美國同業相比，香港現貨 ETF 市場最初規模相對較小。 ETF專家Eric Balchunas估計，長期來看，香港市場可吸引高達10億美元的投資。

However, Balchunas also highlights the significant potential of Hong Kong's financial market and its large pool of investors from mainland China. Despite the ban on cryptocurrencies in China, he notes that investors may seek indirect access to crypto-linked products through Hong Kong's spot ETFs.

然而，巴爾丘納斯也強調了香港金融市場的巨大潛力及其大量來自中國大陸的投資者。儘管中國禁止加密貨幣，但他指出，投資者可能會透過香港的現貨 ETF 尋求間接購買加密貨幣相關產品。

The announcement of the April 30th trading date has been met with enthusiasm from industry participants, including HashKey CapitalAsia, which declared its readiness to participate in the market.

4月30日交易日的宣布引起了行業參與者的熱情，其中包括HashKey CapitalAsia，該公司宣布準備參與市場。

Low Trade Fee Competition Anticipated

預期低交易費競爭

Financial journalist James Seyffart has expressed optimism about the potential for low trade fees in Hong Kong's spot ETF market. He suggests that a "fee war" could ensue among ETF providers, benefiting investors with lower costs of entry and participation.

財經記者 James Seyffart 對香港現貨 ETF 市場低交易費用的潛力表示樂觀。他表示，ETF 提供者之間可能會發生“費用戰”，以較低的進入和參與成本使投資者受益。

ETF expert Eric Balchunas has also commented on the trade fee structure of the upcoming ETFs, noting that fees ranging from 30 to 99 basis points are generally lower than market expectations, providing a positive signal for investors.

ETF專家Eric Balchunas也對即將推出的ETF的交易費用結構發表了評論，指出30至99個基點的費用普遍低於市場預期，為投資者提供了積極信號。

Regulatory Oversight and Investor Protection

監理監督和投資者保護

The Hong Kong Securities and Futures Commission (SFC) has played a central role in establishing a robust regulatory framework for the crypto ETF market. The SEC has implemented stringent requirements to ensure investor protection, including the segregation of crypto assets, regular reporting, and adherence to international anti-money laundering and know-your-customer (KYC) standards.

香港證券及期貨事務監察委員會（證監會）在為加密貨幣 ETF 市場建立健全的監管框架方面發揮了核心作用。 SEC 實施了嚴格的要求來確保投資者保護，包括加密資產的隔離、定期報告以及遵守國際反洗錢和了解你的客戶 (KYC) 標準。

Implications for Mainland China Investors

對中國內地投資者的影響

Despite the potential appeal of Hong Kong's spot ETFs to mainland Chinese investors, experts emphasize that regulatory restrictions in China will likely prevent direct participation. The Chinese government's prohibition on cryptocurrencies remains in force, and investors are advised to exercise caution and seek legal guidance before engaging in any crypto-related activities.

儘管香港現貨ETF對中國內地投資者俱有潛在吸引力，但專家強調，中國的監管限制可能會阻止直接參與。中國政府對加密貨幣的禁令仍然有效，建議投資者在從事任何加密貨幣相關活動之前保持謹慎並尋求法律指導。

Conclusion

結論

The launch of Bitcoin and Ethereum spot ETFs in Hong Kong represents a significant step in the global adoption of cryptocurrencies. Hong Kong's emergence as a crypto-friendly jurisdiction provides investors with a transparent and regulated gateway to the crypto market. The competitive trade fee structure and robust regulatory oversight are expected to attract a diverse range of investors, contributing to the growth and maturity of Hong Kong's crypto ecosystem.

在香港推出比特幣和以太坊現貨 ETF 代表著全球採用加密貨幣的重要一步。香港作為一個對加密貨幣友善的司法管轄區的出現，為投資者提供了進入加密貨幣市場的透明且受監管的門戶。具有競爭力的交易費用結構和強有力的監管預計將吸引多元化的投資者，促進香港加密貨幣生態系統的成長和成熟。