The first batch of virtual asset spot ETFs are listed, with family offices planning to participate using physical Bitcoins

The first batch of Asian virtual asset spot exchanges for trading Exchange Traded Funds (ETFs) has been listed in Hong Kong. A family office from Singapore, with an asset management scale of 100 million US dollars, plans to participate in the trade using physical bitcoins. Wang Junjie, a partner at Yicai Investment Fund, manages a mainland family's office set up in Singapore and has established a branch in Hong Kong. During his interview in Hong Kong, Wang revealed that about half of the assets invested by relevant clients are currently invested in virtual assets; the rest is invested in Hong Kong stocks and U.S. stocks. However, since mainland customers cannot directly invest in virtual assets, they can only apply through institutional identities. He said he already holds quite a few bitcoins and participates in American virtual asset ETF products. The fact that Hong Kong allows redemptions with physical bitcoin and Ethereum ETF transactions attracted this office to invest here. After the local government issued its policy statement on virtual assets, Wang believes that development prospects are more promising within Asia-Pacific region due to regulated trading platforms which provide better protection.