The first batch of virtual asset spot ETFs are listed, and some family offices plan to participate with physical Bitcoin

The first batch of virtual asset spot trading exchange-traded funds (ETFs) in Asia was listed in Hong Kong. A family office from Singapore with assets under management of up to USD 100 million stated that they plan to participate in trading with physical bitcoins.

Wang Junjie, a partner of Yicai Investment Fund, is responsible for managing a family office set up by a mainland Chinese family in Singapore and establishing a branch in Hong Kong. Wang Junjie revealed during an interview in Hong Kong that currently about half of the related clients' assets are invested in virtual assets, while the rest are invested in Hong Kong and US stocks. However, due to the inability of mainland clients to directly invest in virtual assets, they can only apply for institutional purchases through agencies.

He said that he himself already holds a considerable amount of bitcoins and has also participated in US virtual asset ETF products. Hong Kong allows redemption with physical bitcoins and also allows trading of Ethereum ETFs, which attracted the office to invest in Hong Kong.

Wang Junjie pointed out that since the Hong Kong government issued a virtual asset policy statement, he believes that the Asia-Pacific region has more development prospects, and the trading platform is regulated by the Securities and Futures Commission, which is more secure.