HONG KONG, April 30, 2024 /PRNewswire/ — Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome the listing of Asia’s first Spot Virtual Asset (VA) ETFs on 30 April (Hong Kong time), adding to the diversity of products in Hong Kong’s markets and further supporting the city’s position as the region’s leading ETF marketplace by offering investors even more choice.

HKEX Head of Equities Product Development, Brian Roberts, said: “The introduction of Spot VA ETFs in Hong Kong is the latest exciting addition to HKEX’s diverse and vibrant ETP ecosystem, providing investors with access to a new asset class. Following the success of VA Futures ETFs, the listing of Asia’s first spot VA ETFs will further enhance the product diversity and liquidity of the Hong Kong ETP market. We look forward to continue working closely with our stakeholders with a view to launching more products to our international marketplace.”

Investor interest in virtual asset ETFs has grown since VA Futures ETFs were first launched in late 2022. In the first quarter of 2024, the combined average daily turnover (ADT) for the three VA Futures ETFs listed in Hong Kong reached HK$51.3 million, up from HK$8.9 million a year earlier. Additionally, these three VA futures ETFs attracted HK$529 million in net inflows during the first quarter.

Exchange Traded Products (ETPs), including ETFs and Leveraged and Inverse Products (L&I Products), remain one of the fastest-growing segments in HKEX’s markets, with the diversity of products available in Hong Kong continuing to expand over the last year. These include welcoming Asia Pacific’s first Saudi Arabian ETF, Hong Kong’s first ever listings of Covered Call ETFs, part of the 16 new ETFs introduced in 2023 and in the first quarter of 2024, bringing the total to 179.

About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code: 388) and one of the world’s leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metal Exchange.

As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of the world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets.

HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all.

www.hkexgroup.com

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SINGAPORE, April 30, 2024 /PRNewswire/ — SUNRATE, an intelligent global payment and treasury management platform announced its partnership with YeePay, a leading enterprise payment solutions provider, to empower Chinese companies to expand into global markets.

With the ongoing trend of increased interconnectivity across the globe, China will continue to be an important player in global development, and Chinese enterprises are more than ever, playing crucial roles on the international stage. However, in order to better adapt to international competition and respond to global challenges, setting up and adherence to robust compliance frameworks have become the core competitiveness and inevitable requirement of international enterprises. Among the challenges, the compliance and security of cross-border B2B payments are major challenges that enterprises face in the process of internationalisation.

As the State Council unveiled the Regulations on the Supervision and Administration of Non-bank Payment Institutions (hereinafter referred to as the Regulations), which will take effect on May 1, 2024, YeePay and SUNRATE will actively embrace all regulatory requirements and help small and medium-sized enterprises (SMEs) to go global seamlessly – by building a compliant and secure one-stop global business payment solution, and assessing global growth opportunities.

Bin Tang, Founder and CEO at YeePay said, “The strategic cooperation between YeePay and SUNRATE will further enhance the compliance and security of cross-border payments. Both SUNRATE and YeePay will continuously strengthen risk management, protect user rights, and actively explore new cooperation models and services to provide Chinese enterprises expanding globally with secure, convenient, and cost-effective payment and transaction services. In addition, we hope to see more partners joining us, providing better transaction services for Chinese enterprises to expand globally.”

Paul Meng, Co-Founder at SUNRATE said, “For SUNRATE, security and compliance are the bedrock of our business operations. As we expand into different markets, SUNRATE maintains compliant operations locally, including in-depth collaboration with well-known local financial institutions. We are pleased to have forged a strategic partnership with YeePay, which will allow both companies to work together, to create safer and more efficient global business payment and collection services for Chinese enterprises.”

About SUNRATE

SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.

With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and J.P. Morgan. To learn more about SUNRATE, visit https://www.sunrate.com/

About YeePay

Established in 2003, YeePay is one of the leading enterprise payment service providers in China. The company provides total payment solutions for the enterprise, integrating multiple payment channels including online, mobile and offline in the frontend, and streamlining settlement processes in the backend. YeePay’s key advantage is customized solutions and value-added services for industry verticals including airline and travel, new retail, Internet finance, administration and education, cross-border etc. YeePay holds the payment license from People’s Bank of China and the cross-border license from State Administration of Foreign Exchange.

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HONG KONG, April 30, 2024  /PRNewswire/ — The Exchange Traded Funds, Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF (the “ETFs”) have officially launched on the Hong Kong Stock Exchange today. In respect of the ETFs, Bosera Asset Management (International) Co., Limited and HashKey Capital Limited are the Investment Manager and Sub-Investment Manager respectively. The ETFs are part of the first batch of Bitcoin and Ether spot ETFs to launch in a major financial hub in Asia and they are now listed under the tickers  BTC: 3008.HK (HKD); 9008.HK (USD) and ETH: 3009.HK (HKD); 9009.HK (USD) respectively.

One of the key features of these ETFs is that they introduce an ‘in-kind’ subscription mechanism, which allows investors to directly subscribe for ETF shares using Bitcoin and Ethereum. Investors can purchase the ETFs with Bitcoin or Ethereum and subsequently sell them for cash, or vice versa, enabling seamless two-way investment flexibility.

Additionally, the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF track the CME CF Bitcoin Reference Rate – Asia Pacific Variant and the CME CF Ether-Dollar Reference Rate – Asia Pacific Variant respectively.

“The launch of the Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF marks a significant leap forward in democratizing access to cryptocurrencies,” said Deng Chao, CEO of HashKey Capital. “These innovative ETFs not only provide a convenient entry point for investors but also underscore our commitment to driving innovation in the virtual asset ecosystem.”

Importantly, non-Hong Kong nationals can also subscribe for or purchase units in the ETFs if they meet local regulatory requirements, such as passing customer due diligence.

The Bosera HashKey Bitcoin ETF and Bosera HashKey Ether ETF are now available for trading on the Hong Kong Stock Exchange.

Note: The tickers BTC: 3008.HK (HKD); 9008.HK (USD) and ETH: 3009.HK (HKD); 9009.HK (USD)are now officially listed on the Hong Kong Stock Exchange (HKEX).

About HashKey Capital

Global in influence and crypto-native, HashKey Capital is a digital asset and blockchain leader helping institutions, founders and talents advance the blockchain industries.

As one of the largest crypto funds and the earliest institutional investor in Ethereum, HashKey Capital has managed over US$1 billion in client assets since its inception, with over 500 investments in infrastructure, tools, and applications.

With our deep knowledge across the blockchain ecosystem, HashKey Capital has built a robust network connecting founders, investors, developers, and regulators.

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