Cryptocurrency News

Victory Securities launches Hong Kong Bitcoin Ethereum Spot ETF

Victory Securities, a well-known Hong Kong-based financial company, has launched its most recent innovation, the Hong Kong Bitcoin Ethereum spot ETF. This achievement marks a huge step towards integrating cryptocurrencies into mainstream banking and demonstrates Victory Securities’ dedication to transparency and accessibility in the digital assets industry. 

This entrance of Victory Securities in the crypto sector is based on a comprehensive fee structure guide created to give investors a clear idea of the fee involved with ETF participation. This fee guide, released in response to the Securities and Futures Commission (SFC) approval for spot trading in Ethereum and Bitcoin ETFs in Hong Kong, is a peak of transparency in this market.

While looking into this fee structure, investors are given a detailed breakdown of the expenditures they can expect while trading with the Hong Kong Bitcoin Ethereum spot ETF. Notably, fees for major market transactions on Bitcoin and Ethereum range from 0.5% to 1%, with a minimum charge of $850.

The guide also explains the primary market cash redemption expenses, which range between 0.1% and 0.15% of the transaction value, with a minimum price of $500. This level of information will enable the investor to make an educated decision regarding their investing strategy, with a thorough grasp of the accompanying expenses. 

Furthermore, Victory Securities’ price structure applies to phone or email transactions, which incur a cost of 0.215% per trade, with a minimum charge of $8. The tiered fee structure not only meets the different demands of investors but also demonstrates Victory Securities’ dedication to delivering accessible investing options in the digital asset industry.

The Hong Kong Securities and Futures Commission’s formal approval of spot Bitcoin and Ethereum ETFs is an essential event in the growth of the cryptocurrency environment. The country confirms its status as a leader in adopting financial products and technology by being the first jurisdiction to approve Ethereum.

This region’s financial environment will see a surge in the mainstream use of cryptocurrencies due to this regulatory backing, which opens the door for many financial institutions to provide Bitcoin and Ethereum products.

Thomas Gillard

Thomas is news editor at CoinNewsSpan. He has worked as a sub editor for leading newspapers and magazines. He is responsible for streamlining the news that would go live on the site. He single handedly executes different editorial decisions that are taken from time to time. His primary focus areas include Ethereum and Ripple and crypto mining.

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