香港推出加密货币 ETF，考验该市的虚拟资产雄心

香港首次推出的六只加密货币 ETF 引起了广泛关注，交易数小时内就积累了近 5000 万港元。这些ETF旨在吸引寻求亚洲特定产品的亚洲投资者，并提供管理费减免等激励措施。尽管拥有香港金融账户的中国大陆投资者可以使用它们，但身份验证的复杂性可能会阻碍其使用。在兴奋之余，监管机构对与加密货币投资相关的高风险发出警告。

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

香港推出加密货币 ETF 考验香港成为虚拟资产中心的雄心

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货币交易所交易基金（ETF）引起了亚洲投资者的浓厚兴趣，为美国规模较大的同行提供了潜在的替代方案。这些 ETF 引起了广泛关注，考验着该市将自己打造为繁荣的虚拟资产业务中心的愿望。

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.

交易的最初几个小时内，六只香港上市ETF就累计了近5000万港元。虽然这与 11 只比特币 ETF 在美国上市首日交易额 46 亿美元相比显得相形见绌，但对于新兴的香港市场来说，这是一个令人鼓舞的开端。

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.

据信做市商对最初的交易激增做出了重大贡献，引发了人们对这些产品的长期需求的疑问。尽管如此，基金经理和券商仍以费用减免等具有吸引力的激励措施来吸引投资者，以维持兴趣。

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.

由于与美国相比，香港 ETF 市场规模相对较小，因此 ETF 的目标客户是寻求亚洲特定产品的投资者。 HashKey Capital 已确认，非香港居民在满足当地了解你的客户 (KYC) 要求后即可购买 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，尽管ETF在技术上可行，中国内地投资者仍面临挑战。他们的内地身份证在通过经纪平台规定的KYC程序时可能会遇到困难。这一障碍源于北京对大陆商业加密货币交易的严格禁令。

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.

尽管加密产品成功推出，但香港监管机构仍采取谨慎立场，强调其固有风险。 “我们批准虚拟资产ETF并不等于我们支持相关虚拟资产或鼓励公众投资它们，”证券及期货事务监察委员会投资产品执行董事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.

监管机构一直对虚拟资产的投机性和高波动性发出警告，并警告称它们并不适合所有投资者。在香港推出加密货币 ETF 是该市应对虚拟资产监管复杂性并为此类企业培育繁荣生态系统的能力的试金石。时间会证明这些产品是否能够满足持续的需求，并有助于香港成为全球虚拟资产创新中心的愿望。