source：TECHUB NEWS
Commonalities:
●Listing Date:
All three companies' ETFs are scheduled to be listed on April 30, 2024.
●Selected Index:
The Bitcoin spot ETFs of all three companies track the same index, namely the "CME CF Bitcoin Reference Rate." This means that their investment objective is aligned with the performance of Bitcoin prices, allowing investors to gain investment returns closely tied to Bitcoin price movements.
The "CME CF Bitcoin Reference Rate" chosen by these ETF products is an authoritative index reflecting the weighted average prices of Bitcoin across different exchanges. By tracking this index, these ETF products aim to replicate index performance, providing investors with investment returns similar to purchasing actual Bitcoin, while enjoying a more convenient and regulated trading environment.
●Custodian:
All three companies' ETFs designate "Bank of China International (UK) Limited as the custodian. The custodian's role is to safeguard ETF assets and oversee the operation of the fund, ensuring compliance with relevant laws and regulations and providing an additional layer of security for investors.
●Creation/Redemption Policy:
All three companies support both cash and physical creation or redemption methods.
Differences:
●Issue Price:
The initial issue price of Huaxia and Jiashi's ETFs is $1, while Boshi Fund's issue price is based on the index price (HKT) priced in USD at 0.0001, i.e., priced based on the CME CF Bitcoin Reference Rate.
●Trading Unit Size:
The trading unit size for Huaxia and Jiashi is 100 shares, while Boshi Fund's unit size is 10 shares.
●Minimum Subscription:
Huaxia and Boshi Fund require a minimum subscription of 10,000 shares, while Jiashi Fund's requirement is higher at 50,000 shares.
●Trading Currency:
Huaxia Fund supports USD, HKD, and CNY, while Jiashi and Boshi Fund only support USD and HKD.
●Management Fee:
Huaxia Fund's management fee is 0.99%, Jiashi Fund is free for the first six months and then 0.3%, Boshi Fund is free for the first four months and then 0.6%.
●Sub-custodian:
Huaxia and Jiashi choose OSL Digital Securities Limited as sub-custodian, while Boshi Fund chooses Hash Blockchain.
●Virtual Asset Trading Platform:
Huaxia and Jiashi choose OSL Exchange as the trading platform, Boshi Fund chooses HashKey Exchange, and China Merchants Securities (Hong Kong) did not specify the trading platform.
●Market Makers:
Huaxia Fund collaborates with Vivienne Court Trading, Jiashi Fund's market maker information is undisclosed, and Boshi Fund collaborates with Virtu Financial Singapore.
●Participating Brokerages:
Each fund company has different participating brokerages, which are key participants in ETF market operations and essential for ETF circulation. Huaxia Fund and Jiashi Fund have selected institutions such as Victory Securities, Future Asset Securities (Hong Kong), Huaying Oriental (Asia) Holdings, Ed Securities, and Huasheng Capital Securities as partners. Jiashi Fund has also specifically added China Merchants Securities (Hong Kong) as a partner.These participating brokerages, typically known as Authorized Participants (APs), are usually large financial institutions responsible for the subscription and redemption process of ETFs in cooperation with ETF issuers. APs can provide a basket of assets to ETF issuers in exchange for newly created ETF shares or convert ETF shares back into underlying assets. This mechanism helps maintain the market price of ETFs consistent with their Net Asset Value (NAV) and enhances market liquidity and efficiency.
●Auditor:
Huaxia and Jiashi's auditor is PwC, while Boshi Fund's auditor is Ernst & Young. The independent audit work of audit firms is crucial for ensuring the accuracy and compliance of ETF financial reports. They prevent financial errors and fraud through audits, providing confidence to investors.
●Investment Scale:
|
company
|
Mainland Asset Management Scale (USD Billion)
|
Mainland ETF Count
|
Hong Kong Asset Management Scale (USD Thousand)
|
Hong Kong ETF Count
|
|
Huaxia Fund
|
557
|
84
|
360,000
|
15
|
|
Jiashi Fund
|
103
|
42
|
16,000
|
4
|
|
Boshi Fund
|
107
|
43
|
40,000
|
6
|
Which platform can be used for trading virtual asset currency ETFs?
- uSMART is one of the first brokerages in Asia to support trading
uSMART offers a diverse range of investment products, opening the door to the virtual asset market for you. The six Bitcoin spot ETFs were officially launched on April 30th and can now be traded directly on the uSMART APP by searching for their codes.
- uSMART offers a rich portfolio of investment products
uSMART SG platform continuously expands its investment product line to meet investors' demand for diversified asset allocation. After the successful listing of Asia's first virtual asset spot ETFs, uSMART SG will also be able to trade this product, further enriching its global investment services.
We will continue to update relevant product information and trading dynamics, so stay tuned for investors to seize investment opportunities in the international market. uSMART is committed to providing customers with comprehensive financial services, helping investors capture growth potential in global capital markets.
How to place a trade on uSMART mobile application：
After logging into the uSMART SG APP, click on "Search" from the top right corner of the page. Enter the desired stock code to access the details page and review trading information and historical trends. Click on "Trade" at the bottom right corner, then select the "Buy/Sell" function. Finally, fill in the trading conditions and submit the order. The image operation guide is as follows:
This diagram is provided for illustrative purposes exclusively
Follow us
Find us on Twitter, Instagram, YouTube, and TikTok for frequent updates on all things investing.
Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Important Notice and Disclaimer:
We have based this article on our internal research and information available to the public from sources we believe to be reliable. While we have taken all reasonable care in preparing this article, we do not represent the information contained in this article is accurate or complete and we accept no responsibility for errors of fact or for any opinion expressed in this article. Opinions, projections and estimates reflect our assessments as of the article date and are subject to change. We have no obligation to notify you or anyone of any such change. You must make your own independent judgment with respect to any matter contained in this article. Neither we or our respective directors, officers or employees will be responsible for any losses or damages which any person may suffer or incur as a result of relying upon anything stated or omitted from this article.
This document should not be construed in any jurisdiction as constituting an offer, solicitation, recommendation, inducement, endorsement, opinion, or guarantee to purchase, sell, or trade any securities, financial products, or instruments or to engage in any investment or any transaction of any kind, nor is there any intention to solicit or invite the purchase or sale of any securities.
The value of these securities and the income from them may fall or rise. Your investment is subject to investment risk, including loss of income and capital invested. Past performance figures as well as any projection or forecast used in this article is not indicative of its future performance.
This advertisement has not been reviewed by the Monetary Authority of Singapore
Singapore
Hongkong
United States
Group
Log In