On April 30, 2025, a transformative moment unfolded in Hong Kong’s financial landscape as six spot virtual asset ETFs officially commenced trading on the Hong Kong Stock Exchange (HKEX). Among them, two were launched by Boshi Fund (International) Limited (“Boshi International”), a Hong Kong-based financial institution under China Merchants Financial Holdings. Jointly introduced with Huaxia (Hong Kong) and Harvest Fund Management (International), these ETFs mark Asia’s first-ever spot virtual asset exchange-traded funds.
This milestone positions Hong Kong as the second global market—after the United States—to approve and list spot virtual asset ETFs. It underscores the city’s strategic ambition to become a leading international hub for digital assets, backed by robust regulation, institutional credibility, and financial innovation.
👉 Discover how virtual asset ETFs are reshaping investment opportunities in Asia.
A Historic Day for Hong Kong’s Financial Markets
The listing ceremony for Boshi HashKey ETFs was held at the HKEX on the morning of April 30. Senior officials from both public and private sectors attended, including Xu Weigang, Director of the Economic Department at the Central Government Liaison Office; Legislative Council members Qiu Dagen, Wu Jiezhuan, and Li Weihong; HKEX CEO Nancy Chan; SFC Commissioner Choi Fung-yee; and Yu Xiao, President of the Hong Kong Chinese Enterprises Association.
Representatives from China Merchants Financial Holdings, CMBC Wing Lung Bank, China Merchants Securities (International), Boshi International, and HashKey Digital also joined the event. The occasion officially marked the launch of the Boshi HashKey Bitcoin ETF (3008.HK) and the Boshi HashKey Ethereum ETF (3009.HK)—collectively known as spot virtual asset ETFs—on one of Asia’s most prominent financial exchanges.
For global investors, this development offers a regulated, transparent, and accessible gateway to digital assets within the Asian time zone. Unlike over-the-counter or unregulated platforms, these ETFs provide exposure to bitcoin and ether through a trusted exchange environment governed by Hong Kong’s stringent securities laws.
Answering Hong Kong’s Call for Innovation in Digital Finance
In October 2022, Hong Kong’s Financial Services and Treasury Bureau released its Policy Statement on Development of Virtual Assets in Hong Kong, clearly outlining the city's vision to become a global virtual asset hub. Since then, regulators have moved swiftly to establish a compliant framework for digital asset operations.
A key step came on December 22, 2023, when the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) jointly issued a circular confirming they were ready to accept applications for spot virtual asset ETFs. This regulatory green light paved the way for institutional players like Boshi International to move forward.
Boshi International responded promptly—initiating feasibility studies, technical planning, and compliance preparations. By April 15, 2025, it had completed its license upgrade. Just eight days later, on April 23, it received formal SFC approval for both ETFs. The final step—their market debut—occurred on April 30.
This rapid execution reflects not only Boshi International’s operational agility but also its deep alignment with Hong Kong’s broader financial strategy. These products enhance market depth and attract institutional capital into the region’s growing digital asset ecosystem.
👉 Learn how regulated ETFs are bringing crypto into mainstream finance.
Core Keywords Driving the Narrative
The success of this launch hinges on several core keywords that define its market relevance and SEO potential:
- Virtual Asset ETF
- Hong Kong Stock Exchange (HKEX)
- Spot Bitcoin ETF
- Digital Asset Regulation
- Web3 Finance
- Institutional Crypto Investment
- Hong Kong Virtual Asset Hub
- Regulated Crypto Products
These terms naturally appear throughout investor communications, regulatory filings, and media coverage—ensuring visibility among audiences searching for credible information on crypto adoption in traditional finance.
Bridging Traditional Finance and Web3: The Power of Strategic Partnership
To ensure technical excellence and blockchain expertise, Boshi International partnered with HashKey Capital, a leading digital asset manager under HashKey Group. As co-investment manager, HashKey brings deep experience in blockchain infrastructure, smart contract security, and decentralized finance protocols.
HashKey Capital manages over $1 billion in assets and is recognized as one of Asia’s most influential blockchain-focused investment firms. Its collaboration with Boshi International exemplifies a powerful fusion: traditional asset management rigor meets cutting-edge Web3 insight.
This synergy enables the creation of financial products that are not only compliant but also “Web3-native”—designed with an understanding of decentralization, tokenomics, and long-term ecosystem sustainability.
Such partnerships are critical in building trust among conservative investors while delivering innovation that appeals to tech-savvy participants.
Strengthening Hong Kong’s Position as a Global Financial Center
The introduction of spot virtual asset ETFs does more than expand product choice—it signals Hong Kong’s readiness to lead in next-generation finance. By combining strong regulation with market openness, the city is attracting global capital seeking secure exposure to digital assets.
Moreover, this move strengthens Hong Kong’s role as a bridge between East and West. Investors from mainland China gain access to compliant crypto products without leaving regulated channels. Meanwhile, international funds see Hong Kong as a stable entry point into Asia’s rapidly evolving digital economy.
Other financial centers are watching closely. Should Hong Kong’s model prove successful, it could serve as a blueprint for regulated crypto adoption worldwide.
👉 See how Asia is leading the next wave of financial innovation with digital assets.
Frequently Asked Questions (FAQ)
Q: What are spot virtual asset ETFs?
A: Spot virtual asset ETFs directly hold underlying digital assets like bitcoin or ether, rather than futures contracts or derivatives. This provides investors with direct exposure to price movements in a regulated fund structure.
Q: Why is Hong Kong launching these ETFs now?
A: Following its 2022 policy declaration and subsequent regulatory updates, Hong Kong has created a clear legal pathway for virtual asset products. The launch aligns with its goal to become a global digital asset hub amid rising global demand.
Q: Are these ETFs safe for retail investors?
A: Yes. These funds operate under strict oversight by the SFC and HKMA. They offer transparency, daily disclosures, custodial safeguards, and audit trails—making them significantly safer than unregulated crypto platforms.
Q: How do I invest in these ETFs?
A: Investors can buy shares through any brokerage account that supports HKEX trading. No cryptocurrency wallets or exchanges are required—access is fully integrated into traditional stock trading systems.
Q: What makes Boshi International’s ETF different?
A: Backed by China Merchants Group and co-managed with HashKey Capital, it combines institutional strength with blockchain expertise—offering a uniquely balanced approach to digital asset investing.
Q: Will more virtual asset ETFs be launched in Hong Kong?
A: Yes. With initial approvals granted and market interest high, several other fund managers are expected to file for similar products covering additional cryptocurrencies and diversified baskets.
Looking Ahead: The Future of Digital Finance in Hong Kong
Boshi International’s entry into spot virtual asset ETFs is more than a product launch—it’s a strategic commitment to innovation, compliance, and long-term growth. As part of China Merchants Financial Holdings’ “deepening presence in Hong Kong” strategy, this initiative reinforces confidence in Hong Kong’s financial future.
With continued support from regulators, technological partners, and institutional investors, Hong Kong is well-positioned to become Asia’s premier center for digital finance. The arrival of regulated spot ETFs is just the beginning.