Hong Kong, December 15, 2022–(BUSINESS WIRE)–CSOP Bitcoin Futures ETF (3066.HK) and CSOP Ether Futures ETF (3068.HK) will be listed on the Hong Kong Stock Exchange on December 16, 2022 as Asia’s first listed bitcoin and ether futures ETFs. To capture the performance of Bitcoin and Ether, 3066.HK and 3068.HK are actively managed to invest in the Chicago Mercantile Exchange (“CME Group”) and listed Bitcoin and Ether futures to track their respective prices. At the same list price of around HKD 7.75, a trading lot of 100 and a management fee of 1.99%, 3066.HK and 3068.HK received $53.89 million and $19.74 million in initial investment, respectively.
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CSOP Bitcoin Futures ETF (3066.HK) and CSOP Ether Futures ETF (3068.HK) to list on HKEX (Graphic: Business Wire)
“Virtual Asset” refers to digital representations of value that may be in the form of digital tokens (such as utility tokens, cryptocoins or security or asset-backed tokens) or any other virtual products, crypto assets or other similar assets. Nature.1 By November 2021, the global virtual currency market will top $3 trillion, with 10,000+ cryptos and 600+ exchanges.2 Virtual property has become an asset class that is too big to ignore and has huge potential to grow further. Bitcoin and Ether are crypto assets that currently account for 39% and 17% of the total market capitalization respectively.3 At the end of October 31, 2021, net inflows into ETPs tracking the performance of international virtual assets grew 100 times to $7,677 million, compared to $75 million in 2019.4 As an emerging asset class, virtual assets have experienced significant volatility in price. For example, in 2021 the price of each bitcoin increased to more than $66,000 and by the end of November 2022 it had risen to 75% of its peak.5
In view of the increasing market acceptance of virtual assets, the Hong Kong Securities and Futures Commission in 2011 On October 31, 2022, the ETF tracker announced that it will allow crypto futures to begin public offerings when Asian retail investors gain such exposure to the virtual currency. Properties.6 Newly listed virtual asset futures ETFs are easy for investors to buy and sell through traditional brokerage or investment accounts for as little as $100. Active investment strategies are adopted to allow flexibility in portfolio composition, rotation strategy and any market disruptions. Additionally, Virtual Asset Futures ETFs fund assets are guarded by an independent custodian with high security and strict supervision.
“The approval of two new ETFs based on CME Bitcoin and Ether futures is a significant milestone for the digital asset ecosystem in Asia,” said Tim McCourt, Head of Global Equity and FX Products, CME Group. “The listing of these ETFs is increasing client demand for exposure to bitcoin and ether in CME Group’s transparent, highly regulated and deeply liquid benchmark futures contracts – both of which have shown an average daily increase of 20% since 2021. In addition, the introduction of these funds from firms such as CSOP Asset Management to many institutional and It creates new opportunities for retail investors.
“CSOP is the first Chinese offshore asset management company established in Hong Kong. Since its establishment in 2008, CSOP has been committed to bringing high-quality and innovative investment tools to Hong Kong investors. It offers high-quality ETF products to Hong Kong and Asian retail investors in a flexible and transparent manner. This way, investors can easily track the prices of Bitcoin and Ether through a conventional ETF investment tool,” concluded Ms. Ding Chen, CEO of CSOP.
CSOP Asset Management (“CSOP”) is a leading ETF issuer in Asia, the second largest in Hong Kong.# . In the year Founded in 2008, CSOP is the first offshore asset manager formed by a Chinese asset management company. Committed to providing best-in-class investment solutions, CSOP offers institutional and retail clients a wide range of index-tracking exchange traded funds/products, actively managed mutual funds and investment advisory services, offering strategies ranging from equity and fixed income products to money markets. and quantitative funds.
# Bloomberg, as of October 2022, excluding the SPDR Gold Trust
This article has not been reviewed by the Securities and Futures Commission.
Issuer: CSOP Asset Management Limited
Important: Investing involves risks. The value of an investment may rise or fall. Past performance information is not indicative of future performance. For further details, including product features and risk factors, investors should refer to the prospectus and statement of key product facts. Investors should not rely solely on this document to make investment decisions.
CSOP Ether Futures ETF is a sub-fund of the CSOP ETF Series, which is an umbrella unit trust incorporated under Hong Kong law. It is an actively managed exchange traded fund. CSOP Ether Futures ETF units are traded on the Hong Kong Stock Exchange like stocks. The CSOP Ether Futures ETF is denominated in USD.
The CSOP Bitcoin Futures ETF is a sub-fund of the CSOP ETF Series, which is an umbrella unit trust incorporated under Hong Kong law. It is an actively managed exchange traded fund. CSOP Bitcoin Futures ETF units are traded like stocks on the Hong Kong Stock Exchange. The CSOP Bitcoin Futures ETF is denominated in USD.
The CSOP Bitcoin Futures ETF and the CSOP Ether Futures ETF are not directly or indirectly offered or sold for the benefit of legal or natural persons in Mainland China. In addition, no Mainland China legal or natural persons may directly or indirectly purchase the CSOP Bitcoin Futures ETF or the CSOP Ether Futures ETF without obtaining all Mainland China governmental approvals required by law or otherwise.
Before making any investment decision, investors should read the relevant prospectus and product key facts statements in detail.
1 For details, please refer to SFC Circular https://apps.sfc.hk/eddistributionWeb/gateway/EN/circular/products/product-authorization/doc?refNo=22EC60
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6 CSOP, Bloomberg, November 2022
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