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SOLOWIN Serves as Participating Dealer in Hong Kong’s First Spot Virtual Asset ETF 

2 mins
Updated by Maria Petrova
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SOLOWIN HOLDINGS, a securities brokerage company that offers comprehensive financial services primarily to Chinese investors, was appointed as a participating dealer for the recently debuted Hong Kong spot virtual asset ETFs.

The ETFs introduce an innovative in-kind subscription and redemption mechanism that will revolutionize the way investors can engage with digital assets. 

Partnership for Innovation

SOLOWIN’s operating subsidiary, Solomon JFZ (Asia) Holdings Limited (“Solomon”), strategically partnered with OSL Digital Securities (“OSL”), the world’s first SFC-licensed and insured digital asset platform, to implement this innovative initiative. Solomon will oversee the issuance and trading of the ETF, ensuring strict compliance to regulatory standards to bolster investor confidence in the product.

The partnership with OSL and the way both companies engage with regulatory bodies is setting a new benchmark for investment and compliance in the virtual asset sector. This is crucial for advancing the local digital asset market, fostering innovation, and attracting inbound investments.

Transforming the Digital Asset Landscape

One key feature that sets Hong Kong’s spot virtual asset ETFs apart is the innovative in-kind subscription mechanism, allowing investors to directly purchase and redeem with Bitcoin or Ethereum. This transformative initiative increases the flexibility and inclusiveness of spot virtual asset ETFs and is expected to channel substantial investments into the virtual asset space.

Positioning the City to Be a Global Center for Digital Assets

Since the launch of virtual asset futures ETFs in late 2022, investor has grown significantly. Bosera International, Harvest Global Investments and China Asset Management have launched 6 spot ETFs for Bitcoin and Ethereum on the Hong Kong Stock Exchange. Hong Kong is among the first locations in the world to approve Ethereum ETFs and the first in Asia to offer retail investors spot virtual asset ETFs.

This ground-breaking initiative sets the stage for the growth and development of the virtual asset market, solidifying Hong Kong’s position as a leading hub. Following the successful introduction of similar ETFs in the United States which attracted an impressive $12 billion in investments within three months, this development in the Hong Kong presents enormous opportunities.

To learn more about SOLOWIN HOLDING, please visit the official website.

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