Alchemy Pay and Victory Securities Now Provide Access to Crypto ETFs in Hong Kong

1 min
Updated by Lynn Wang
Join our Trading Community on Telegram

In Brief

  • Alchemy Pay allies with Victory Securities to offer access to Hong Kong Bitcoin (BTC) and Ethereum (ETH) ETFs.
  • A new partnership will allow its users to access the VictoryX app, where they can choose their asset allocation.
  • Despite the modest performance, the number of companies interested in facilitating ETFs in Hong Kong is growing.
  • promo

Crypto payment solutions provider Alchemy Pay announced a partnership with exchange-traded services company Victory Securities to offer access to Bitcoin and Ethereum spot ETFs in Hong Kong.

The alliance will facilitate access to Bitcoin spot ETFs, as Victory Securities is licensed by the Securities and Futures Commission (SFC) in Hong Kong. Their agreement will act as a link between traditional finance and cryptocurrencies. 

Alchemy Pay Collaborates with Victory Securities

Alchemy Pay, known for its on-ramp solutions and crypto cards, expressed interest in entering the Hong Kong market weeks ago. A new partnership allows its users to access the VictoryX app, where they can choose their asset allocation. In addition to ETFs, Victory Securities offers futures contracts, securities, corporate finance advice, and asset management.

Since its launch, ETFs in Hong Kong have garnered attention due to the participation of major asset managers such as Harvest Global, HashKey Capital, and Bosera Asset Management as issuers. However, their performance cannot yet be compared to US ETFs. According to Coinglass data, on May 14, Bitcoin ETFs in Hong Kong had an inflow of 60.52 BTC after three days of outflow.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

Bitcoin ETF Inflows in Hong Kong.
Bitcoin ETF Inflows in Hong Kong. Source: Coinglass

Despite the modest performance, the number of companies interested in facilitating Bitcoin ETFs in Hong Kong is growing. On May 9, Singapore-based MetaComp and asset manager Bosera International announced the integration of Hong Kong-based Bosera crypto ETFs. These include the Bosera HashKey Bitcoin ETF (BOS HSK BTC/3008.HK) and the Bosera HashKey Ethereum ETF (BOS HSK ETH/3009.HK).

“Crypto ETFs provide a means for investors of all levels to enter the world of digital assets through a regulated, government-backed investment vehicle,” Evgeny Gaevoy, CEO of Wintermute, previously said.

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Sponsored
Sponsored