China AMC’s Bitcoin ETF to Open Door for Chinese RMB Investors

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China AMC’s Bitcoin ETF to Open Door for Chinese RMB Investors

Cryptonews05-01

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.In an interview with Bloomberg, China AMC ...

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channels for Chinese currency holders.In an interview with Bloomberg, China AMC ...</p>\n\n<a href=\"https://cryptonews.com/news/china-amcs-bitcoin-etf-to-open-door-for-chinese-rmb-investors.htm\">Source 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Bitcoin and Ethereum exchange-traded funds  newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.In an interview with Bloomberg, China AMC CEO Yimei Li stated that these ETFs represent a significant milestone in making cryptocurrency investments more accessible to mainland Chinese investors.Chinese RMB Trading Counter for Potential Mainland Investors. — Wu Blockchain  April 30, 2024“We have witnessed top-down momentum pushing Hong Kong to become a global hub for Web3.0, this authority endorsement is pivotal as it underscores Hong Kong’s competitive advantage in the global virtual assets sector,” said China AMC  CEO Tian Gan.“We are fully embracing the mainstream transition of virtual assets by developing differentiated investment offerings to help clients achieve their investment goals in this new asset class,” said Gan.","collect":0,"end_time":0,"defaultTopTitle":"cryptonews.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AMC":"AMC院线","HODL":"VanEck Bitcoin Trust ETF","GBTC":"Grayscale Bitcoin Trust","DEFI":"Hashdex Bitcoin ETF","FBTC":"Fidelity Wise Origin Bitcoin Fund","ISBC":"投资者银行","BITB":"Bitwise Bitcoin ETF","BITO":"ProShares Bitcoin Strategy ETF","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BTCO":"Invesco Galaxy Bitcoin ETF","BK4550":"红杉资本持仓","BTCW":"WisdomTree Bitcoin Fund","FDN":"First Trust Dow Jones Internet I","BK4211":"区域性银行","EZBC":"Franklin Bitcoin ETF","BRRR":"Valkyrie Bitcoin Fund","IBIT":"iShares Bitcoin Trust","BK4588":"碎股"},"translate_title":"中国资产管理公司比特币ETF向中国人民币投资者敞开大门","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCO":1,"ISBC":1,"IBIT":1,"HODL":1,"GBTC":1,"FDN":1,"FBTC":1,"EZBC":1,"DEFI":1,"BTCW":1,"AMC":1,"BRRR":1,"BITO":1,"BITB":1},"content_text":"The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.In an interview with Bloomberg, China AMC CEO Yimei Li stated that these ETFs represent a significant milestone in making cryptocurrency investments more accessible to mainland Chinese investors.Chinese RMB Trading Counter for Potential Mainland Investors\nThough crypto trading is banned in mainland China, Li said that the official launch of the ETFs “opens the door for a lot of RMB holders.”Li also expressed her hope that there could be a “new opportunity” for mainland Chinese investors in the future to “participate in this process.”According to an announcement, China AMC published on April 29, the new funds offer unprecedented flexibility for investors, accommodating both cash and in-kind transactions.The company’s offering included trading counters in USD, HKD, and RMB, catering to both listed and unlisted shares. these ETFs are the only Bitcoin and Ethereum ETFs that provide a Chinese yuan trading counter.“As the opening up progresses, we definitely hope that multi-assets will be available for domestic investors,” said Li.Asia’s First Bitcoin ETFs and Ethereum ETFs\nWith Ethereum and Bitcoin ETFs launched today, China AMC reportedly has an initial offering period (IOP) scale of $142 million, with HK$950 million for Bitcoin ETF and HK$160 million for Ethereum ETF.\nChinaAMC said its IOP (initial offering period) scale today is: HK$950 million for ChinaAMC HongKong Bitcoin ETF; HK$160 million for ChinaAMC Ethereum ETF, totaling approximately US$142 million. Bitcoin ETF is about 6x larger than Ethereum. https://t.co/9hgicVWsKc\n— Wu Blockchain (@WuBlockchain) April 30, 2024“We have witnessed top-down momentum pushing Hong Kong to become a global hub for Web3.0, this authority endorsement is pivotal as it underscores Hong Kong’s competitive advantage in the global virtual assets sector,” said China AMC (HK) CEO Tian Gan.“We are fully embracing the mainstream transition of virtual assets by developing differentiated investment offerings to help clients achieve their investment goals in this new asset class,” said Gan.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}