香港推出加密貨幣 ETF，考驗該市的虛擬資產雄心

香港首次推出的六隻加密貨幣 ETF 引起了廣泛關注，交易數小時內就累積了近 5,000 萬港元。這些ETF旨在吸引尋求亞洲特定產品的亞洲投資者，並提供管理費減免等激勵措施。儘管擁有香港金融帳戶的中國大陸投資者可以使用它們，但身份驗證的複雜性可能會阻礙其使用。在興奮之餘，監管機構對與加密貨幣投資相關的高風險發出警告。

Hong Kong's Crypto ETF Launch Tests City's Ambitions to Become Virtual Asset Hub

Hong Kong's Crypto ETF Launch Tests City's Ambitions to Become Virtual Asset Hub

Hong Kong's recent launch of crypto exchange-traded funds (ETFs) has sparked keen interest among investors in Asia, offering a potential alternative to their larger-scale counterparts in the United States. These ETFs have garnered significant attention, testing the city's aspirations to establish itself as a thriving hub for virtual asset businesses.

香港最近推出的加密貨幣交易所交易基金（ETF）引起了亞洲投資者的濃厚興趣，為美國規模較大的同業提供了潛在的替代方案。這些 ETF 引起了廣泛關注，考驗著該市將自己打造為繁榮的虛擬資產業務中心的願望。

Within the first few hours of trading, the six Hong Kong-listed ETFs accumulated nearly HK$50 million. While this pales in comparison to the $4.6 billion traded in 11 bitcoin ETFs on their initial day in the US, it is an encouraging start for the nascent Hong Kong market.

在交易的最初幾個小時內，六隻香港上市ETF就累計了近5,000萬港元。雖然這與 11 隻比特幣 ETF 在美國上市首日交易額 46 億美元相比顯得相形見絀，但對於新興的香港市場來說，這是一個令人鼓舞的開端。

Market makers are believed to have contributed heavily to the initial surge in trading, raising questions about the long-term demand for these products. Nonetheless, fund managers and brokerages are enticing investors with attractive incentives such as fee waivers, aiming to sustain interest.

據信做市商對最初的交易激增做出了重大貢獻，引發了人們對這些產品的長期需求的疑問。儘管如此，基金經理人和券商仍以費用減免等具有吸引力的激勵措施來吸引投資者，以維持興趣。

Due to the relatively smaller size of Hong Kong's ETF market compared to the US, the ETFs are targeting investors seeking Asia-specific products. HashKey Capital has confirmed that non-Hong Kong residents can acquire shares in the ETFs upon meeting local know-your-customer (KYC) requirements.

由於與美國相比，香港 ETF 市場規模相對較小，因此 ETF 的目標客戶是尋求亞洲特定產品的投資者。 HashKey Capital 已確認，非香港居民在滿足當地了解你的客戶 (KYC) 要求後即可購買 ETF 股份。

However, mainland Chinese investors face challenges despite the technical availability of the ETFs. Their mainland identity cards may encounter difficulties in passing KYC procedures imposed by brokerage platforms. This obstacle stems from Beijing's stringent ban on commercial cryptocurrency trading on the mainland.

然而，儘管ETF在技術上可行，中國內地投資者仍面臨挑戰。他們的內地身分證在透過經紀平台規定的KYC程序時可能會遇到困難。這項障礙源自於北京對大陸商業加密貨幣交易的嚴格禁令。

Hong Kong regulators have adopted a cautious stance, emphasizing the inherent risks associated with crypto-based products despite their successful launch. "Our approval for virtual asset ETFs does not equate to us supporting the relevant virtual assets or us encouraging the public to invest in them," stated Christina Choi Fung Yee, executive director of investment products at the Securities and Futures Commission.

儘管加密產品成功推出，香港監管機構仍採取謹慎立場，強調其固有風險。 「我們批准虛擬資產ETF並不等於我們支持相關虛擬資產或鼓勵公眾投資它們，」證券及期貨事務監察委員會投資產品執行董事Christina Choi Fung Yee表示。

The regulatory body has consistently warned of the speculative nature and high volatility of virtual assets, cautioning that they are not suitable for all investors. The launch of crypto ETFs in Hong Kong serves as a litmus test for the city's ability to navigate the complexities of virtual asset regulation and foster a thriving ecosystem for such businesses. Time will tell whether these products can attain sustained demand and contribute to Hong Kong's aspirations to become a global hub for virtual asset innovation.

監管機構一直對虛擬資產的投機性和高波動性發出警告，並警告它們不適合所有投資者。在香港推出加密貨幣 ETF 是該市應對虛擬資產監管複雜性並為此類企業培育繁榮生態系統的能力的試金石。時間會證明這些產品是否能夠滿足持續的需求，並有助於香港成為全球虛擬資產創新中心的願望。