Business Daily Media

Men's Weekly

.

Victory Securities – The First and Only Participating Dealer that accepts in-kind subscription for the First Batch of Bitcoin and Ethereum Spot ETFs

HONG KONG SAR - Media OutReach Newswire - 23 April 2024 - The Securities and Futures Commission of Hong Kong has recently approved the launch of the first batch of Bitcoin and Ethereum spot ETFs, making Hong Kong the first city in Asia to embrace virtual asset spot ETFs, meanwhile the first batch of Ethereum spot ETFs in the world.

ETF issuers, namely Harvest Global Investments, China Asset Management (ChinaAMC), and Bosera Asset Management (International), plan to launch Bitcoin and Ethereum spot ETFs, which are innovative products leading the global financial market. Among the few participating dealers in this batch of ETFs issuance, Victory Securities is the first and only securities firm in history that offers in-kind subscription for both Ethereum and Bitcoin spot ETFs. In addition to cash subscription, customers can now create ETF units in primary market by depositing virtual assets via Victory Securities' token-in-token-out solution.

This virtual asset spot ETF has been a ground-breaking product in the global financial market. Currently, the United States stock markets only supports Bitcoin spot ETFs, and it only allows fiat subscription and redemption. In Hong Kong, only qualified professional investors are eligible to invest into US Bitcoin spot ETFs. This makes a huge difference when we compared to the Bitcoin and Ethereum spot ETFs in Hong Kong. The approved ETFs in Hong Kong can support both in-cash and in-kind creation and redemption, allowing investors to directly subscribe to and redeem ETFs using Bitcoin or Ethereum. Hong Kong VA spot ETFs involve VA dealing, conducting in-kind creation through Victory Securities can significantly shorten the transaction processing time between broker-dealer and banks. The cut-off time for in-kind creation is also later than that for in-cash creation, providing customers with a wider time window for making investment decisions. Victory Securities has also recently developed an APP and web-based portal named "VictoryX" and will provide the function of creation and redemption for the VA spot ETF units, offering a more convenient and efficient trading services to clients.

In mid-April, Victory Securities announced the launch of the first securities and virtual asset trading APP in Hong Kong, which will also support the deposit and withdrawal of virtual assets by the end of the month, making it the only broker-dealer in Hong Kong with a token-in-token-out solution. Mr. Kennix Chan, Executive Director of Victory Securities, said, "Among Asian markets, we can see that only Hong Kong has a full scale regulatory framework for virtual assets and both the government and regulator simultaneously supports the issuance of VA spot ETFs. In-kind creation and redemption of these ETFs will soon become one of the market's major trend. Victory Securities is honored to play a significant role in this milestone in the development of the virtual asset market in Hong Kong. As a leading virtual asset securities firm, Victory Securities continues to collaborate with the industry to provide innovative products and allocation solutions to investors, leading the industry into a new era of virtual asset investment." In addition to providing in-kind and in-cash creation and redemption services, Victory Securities also allows investors to trade the ETFs through our securities accounts after its listing, providing an all-rounded, secure, reliable, and convenient channel for virtual asset investment.

The market size of Bitcoin spot ETFs in the United States has experienced explosive growth in a short period of time, with net inflows reaching billions of US dollars. Victory Securities expects that with the listing of virtual asset spot ETFs in Hong Kong, virtual assets will seamlessly integrate with traditional finance. Retail investors and institutional fund managers in the Asia-Pacific region will now have one more channel to enter the virtual asset space through Bitcoin and Ethereum spot ETFs. This is a great opportunity for Hong Kong to become the world's second-largest market for virtual asset ETFs or even the second-largest ETF market.

Hashtag: #ETF #spotETF #crypto #virtualasset #finance





The issuer is solely responsible for the content of this announcement.

About Victory Securities

Victory Securities (stock code: 8540.HK), with over 50 years of history, is a comprehensive full-licensed securities firm licensed by the Securities and Futures Commission, with regulated activities under Type 1, Type 2, Type 4, Type 6, and Type 9. Investors can enjoy Victory Securities' comprehensive financial services, including Hong Kong and global securities trading, first and second market securities financing, corporate financing (capital markets and bond capital markets), wealth management in various fields. In 2023, Victory Securities became the first and currently only licensed entity in Hong Kong to hold virtual asset trading, advisory, and asset management service licenses issued by the Securities and Futures Commission.

News from Asia

8Wonder reveals full star-studded lineup, featuring groundbreaking collaborations between vietnamese and international artists

HANOI, VIETNAM - Media OutReach Newswire - 22 August 2025 - VinWonders, a subsidiary of Vingroup, Vietnam's largest private conglomerate and a driving force behind the nation's economic and social...

YesAsia Holdings Reports Another Record-High Interim Performance: 1H2025 Revenue US$243.93 Million (+49.3%), Net Profit US$14.08 Million (+26.7%)

Leveraging B2C and B2B Synergies to Capitalize on the Global K-Beauty BoomResults Highlights Revenue rose by 49.3% to US$243.93 million. Operating profit increased by 31.9% to US...

'Sky Roads' trace Xizang's journey from isolation to modernity

BEIJING, CHINA - Media OutReach Newswire - 23 August 2025 - This year marks the 60th anniversary of the founding of the Xizang Autonomous Region. With an average elevation of over ...

BB Kitty Enters Strategic Cooperation in Vietnam, Accelerating Southeast Asia Market Expansion

FUJIAN, CHINA - Media OutReach Newswire - 23 August 2025 - On August 16, 2025, in Hanoi, Vietnam, Chinese maternal and infant brand BB Kitty ushered in a significant moment – the grand opening of ...

Woh Hup Reaffirms Its Heritage and Culinary Legacy with Modern Innovations

Honouring Tradition: The Noodle Craft That Started It AllSINGAPORE - Media OutReach Newswire - 25 August 2025 - From humble Chinatown beginnings to global recognition, Woh Hup has been a cornerst...

Saint Clare School Unveils AI-Backed Learning Management System for Special Education

SINGAPORE - Media OutReach Newswire - 25 August 2025 - Saint Clare School has launched a powerful new Learning Management System (LMS) designed to transform how teachers plan lessons and create In...

Tavo Unveils the Shell™ - A Pet's Elevated Sanctuary of Comfort and Style

Thoughtfully engineered with a motion-locking sway, elevated design, and naturally flame-resistant fabrics, the Tavo Shell blends safety, style, and serenity into one elegant, pet-ready sanctuary.S...

Bigo Live Brings Global Creator Community Together at Turkey Mid-Year Gala

ISTANBUL, TURKEY - Media OutReach Newswire - 25 August 2025 - Bigo Live, a leading global social live-streaming platform, proudly presents its most anticipated Turkey Mid-Year Gala 2025, taking pl...

Agile Labs Launches AI Risk Matrix Assessment for Enterprise Software Projects

SINGAPORE - Media OutReach Newswire - 25 August 2025 - Agile Labs, a leading software innovation company, has announced the launch of Southeast Asia's first AI Risk Matrix Assessment tailored for ...

ISCA and EY Launch "SCAQ Career Mobility Programme" to Build Southeast Asia’s Next Generation of Chartered Accountants

SINGAPORE - Media OutReach Newswire - 25 August 2025 - The Institute of Singapore Chartered Accountants (ISCA) and Ernst & Young LLP (EY Singapore) have signed a three-year Memorandum of Under...

SME lender Dynamoney welcomes new CEO, Brett Thomas

Strengthens growth ambitions and signals expanded offering Dynamoney, a leading commercial finance provider for Australian SMEs,  has today appoint...

The cost of ignoring AI governance in business

Artificial intelligence (AI) is no longer the promise of a distant future: it's active, embedded, and already shaping decisions across industries. H...

Quickli launches new SMSF product as free beta for limited time only

The leading technology provider for Australian mortgage brokers, Quickli, has answered the prayers of brokers yet again with the launch of a stand...

Portable Monitors for Coding and Programming Students

Today, coding and programming require more focus and efficiency. But, the most essential thing it demands is ample screen space. Students can stru...

Beyond the Banks: Why Agility and Tech Integration Are Defining the Future of Lending in Australia

In Australia’s evolving credit landscape, non-bank lenders are no longer merely filling gaps left by traditional institutions; they are actively r...

Carma appoints Owen Wilson as Chair of the Board

Carma’s next phase of growth to be guided by REA Group’s outgoing CEO who oversaw realestate.com.au rise to be Australia's #1 place for property ...

Sell by LayBy