Hong Kong’s Dual Champions of Virtual Asset ETFs

HONG KONG, July 5, 2024 /PRNewswire/ — Yesterday, the Bosera HashKey Virtual Asset ETFs achieved a historic breakthrough, with their total assets under management (AUM) surpassing US$110 million for the first time. The Bosera HashKey Ether ETF (3009.HK) has maintained a stable position with over 6,000 ETH since May 7, continuing to lead the market. Close behind, the Bosera HashKey Bitcoin ETF (3008.HK) also achieved impressive growth, with a management scale exceeding US$90 million. This growth has driven the total AUM of Bosera HashKey Virtual Asset ETFs to a record high, solidifying their top position in the Asian market.

Since 2015, the HashKey founding team has been deeply involved in the global blockchain and crypto ecosystem. As one of the few forward-thinking institutional investors globally, HashKey not only funded the Ethereum Foundation in its early days but also helped the Ethereum ecosystem flourish in the Asia-Pacific region. Being one of the earliest institutional investors in Ethereum, HashKey has gained a significant first-mover advantage in the convergence of traditional finance and Web3.

HashKey Capital, a part of HashKey Group, was formally established in 2018. With a strong emphasis on regulation and compliance, it rapidly rose to become a leading venture capital fund in Asia. HashKey Capital has implemented a global strategy to promote resource sharing and local ecosystem development, significantly contributing to the advancement of global blockchain technology, industry development, and community evolution.

During the bear market of 2022, HashKey Capital successfully raised a US$500 million VC fund III, injecting new vitality into the Web3 community. Over the past six years, driven by investment and research, the company has invested in over 600 blockchain projects, fostering the growth of the global blockchain ecosystem.

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HashKey Capital has also set new standards for compliance within the Web3 industry, acting as a bridge between the crypto and traditional finance worlds. In 2022, HashKey Capital Limited received a Type 9 licence uplift in Hong Kong, and in 2023, HashKey Capital Singapore Pte Ltd obtained the Capital Markets Services licence for Fund Management in Singapore. This was followed by an upgrade of HashKey Capital Limited’s Type 9 license in Hong Kong and the approval of the Type 4 license this year, making HashKey Capital the first firm to offer both crypto asset management and advisory services to both professional and retail investors. Pending future regulatory approvals, HashKey Capital intends to expand its business lines to market and distribute virtual asset-related private funds and derivatives to professional investors.

In terms of secondary market product development, HashKey Capital launched its first actively managed virtual asset liquid fund in September 2023, marking the emergence of a comprehensive product suite in Web3 asset management. In January 2024, the company released three major indices in collaboration with FTSE Russell, a leading global provider of index and benchmark solutions, to track global digital assets. Continuing this momentum, in April 2024, HashKey Capital partnered with Bosera International to launch the Bosera HashKey Bitcoin ETF (3008.HK) and Ether ETF (3009.HK), successfully listing them on the Hong Kong Stock Exchange. This successfully brought crypto assets into the mainstream financial market.

The success of crypto asset spot ETFs is inseparable from the ecosystem that continuously empowers them.

After 6 years of dedicated efforts, HashKey Capital has played a pivotal role in driving blockchain technology and crypto assets towards large-scale application and mainstream adoption. Throughout this journey, it has established deep strategic partnerships with a diverse network of investors, including traditional financial institutions, sovereign funds, multinational conglomerates, renowned family offices, and crypto-native investors. By leveraging profound insights into investor needs and cutting-edge knowledge of the Web3 industry, the Bosera HashKey Virtual Asset ETFs have not only secured a firm foothold in a highly competitive market but also achieved steady growth in asset management scale. Amidst stronger collaborative efforts and continuous market development, the Bosera HashKey Virtual Asset ETFs will create more value for investors and play an increasingly significant role in the global crypto asset space.

In the Bosera HashKey ETF ecosystem, Bosera International and HashKey Exchange, a subsidiary of HashKey Group, serve as the two pivotal partners driving the product’s launch and market expansion. Bosera International, a veteran in asset management in Asia, offers traditional investors a gateway to access virtual assets. Meanwhile, HashKey Exchange, Hong Kong’s first regulated virtual asset trading platform, provides robust infrastructure necessary for trade execution and liquidity of the Bosera HashKey ETFs.

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Moreover, the thriving development of ETFs is driven by the active participation of regulators and industry leaders. The Hong Kong Exchanges and Clearing Limited (HKEX), the Securities and Futures Commission (SFC) and Hong Kong Legislative Council members, Duncan Chiu and Johnny Ng have provided invaluable guidance and insight to the industry on the development of regulatory compliance for virtual asset ETFs.

Looking ahead, HashKey Capital remains committed to driving financial innovation and fostering Web3 compliance. We will expand investor access to diverse investment opportunities while integrating the Web3 ecosystem more deeply into mainstream financial markets, aiming for broader adoption and recognition.

About HashKey Capital

HashKey Capital is a global digital asset and blockchain leader helping institutions, founders and talents advance the blockchain industry.

As one of the largest crypto fund managers and being the earliest corporate investor in Ethereum, HashKey Capital has managed over US$1 billion in client assets since its inception. Leveraging its unparalleled expertise, HashKey Capital’s venture investments team oversees a diversified portfolio of over 600 pioneering projects across institutional services, infrastructure, data, AI, consumer services/ technology and more.

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On the liquid funds front, HashKey Capital manages a suite of digital asset products, including an actively managed fund and the Bosera HashKey Bitcoin (3008.HK) and Ether (3009.HK) spot ETFs, which are listed on the Hong Kong Stock Exchange (HKEX).

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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GUANGZHOU, China, July 5, 2024 /PRNewswire/ — In the first half of 2024, the A-share ETF market scaled a new record high and the market size surpassed US$292 billion, with broad-based ETFs as the main driving force. According to Wind, the assets of broad-based ETFs doubled from US$83 billion in mid-2021 to over US$171 billion, increasing their share from 41% to 59%. Meanwhile, 25 fund companies launched a total of 84 stock ETFs, an increase of 27 from the same period last year, with a combined initial offering size exceeding US$5.8 billion. Among them, E Fund, the largest fund manager in China, topped the market with ten new ETF launches^[1] and over US$505k in fundraising.

A-share broad-based ETFs led the way with US$54.4 billion in net inflows, taking up more than 90% of the total net inflows. The top 10 ETFs were all broad-based, reflecting the performance of indexes such as the CSI 300, CSI 500, SSE 50, CSI 1000, ChiNext, and STAR 50. The E Fund CSI 300 ETF (Code: 510310) ranked first in terms of fund flows. Additionally, 23 broad-based ETFs have been launched, with CSI A50 ETF being the most favored. Ten ETFs tracking the CSI A50 index, including E Fund CSI A50 ETF (Code: 563080), gathered nearly US$2.3 billion, accounting for almost 40% of the new issuance this year.

On the other hand, high dividend yield ETFs attracted continuous inflows of approximately US$2.1 billion, backed by strong returns. The CSI Dividend Total Return Index and CSI Dividend Low Volatility Total Return Index delivered gains of 11% and 15% respectively. Riding on this momentum, fifteen high dividend yield ETFs were introduced in the first six months of this year, covering high dividend yield assets listed in A-share and Hong Kong stock markets. Notably, E Fund rolled out E Fund Hang Seng SCHK High Dividend Low Volatility ETF (Code: 159545) in March, which tracked the performance of companies listed in Hong Kong and included in Stock Connect, adding to the diversity of onshore investors’ portfolios.

About E Fund

Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with close to RMB 3.3 trillion^[2] (US$ 454 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.

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Nigerian fintech companies have partnered with Sumsub, a leading compliance and verification provider, to enhance innovation and regulatory compliance in the industry. This collaboration aims to address key challenges in the fintech sector and promote sustainable growth.

The Partnership

Sumsub provides advanced compliance solutions, including identity verification, anti-money laundering (AML), and know-your-customer (KYC) services. By partnering with Sumsub, Nigerian fintechs can streamline their compliance processes, ensuring they meet regulatory requirements while focusing on innovation.

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Benefits for Fintech Companies

The partnership with Sumsub offers several benefits for Nigerian fintech companies:

• Enhanced Compliance: Sumsub’s solutions help fintechs comply with regulatory standards, reducing the risk of financial crimes and penalties.
• Improved Efficiency: Automating compliance processes allows fintechs to operate more efficiently, saving time and resources.
• Increased Trust: By demonstrating a commitment to compliance, fintech companies can build trust with customers and partners.

Industry Impact

This collaboration is expected to have a positive impact on the Nigerian fintech industry. Enhanced compliance and innovation will drive growth and attract more investment, contributing to the overall development of the financial sector.

Future Prospects

As the partnership progresses, Nigerian fintech companies will continue to benefit from Sumsub’s expertise and technology. This collaboration sets a precedent for other fintechs in the region to prioritize compliance and innovation, ensuring a sustainable and secure financial ecosystem.

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Source of the news: News Ghana

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