Tiger Brokers Introduces Zero-Commission Trading for Select ETFs

Bitcoin ETF

Starting April 30th, Tiger Brokers’ TigerTradeApp will be available to users in Hong Kong, offering access to six spot crypto ETFs.

The online broker, listed on NASDAQ, announced this move, providing zero-commission trading and waiving platform fees for transactions on the first six virtual asset spot exchange-traded funds (ETFs) issued in Hong Kong.

Expanding Investment Opportunities in Hong Kong with Six New Virtual Asset ETFs

Tiger Brokers’ TigerTradeApp now includes six spot crypto ETFs, namely the Bosera HashKey Bitcoin ETF, Bosera HashKey Ethereum ETF, China Asset Management Bitcoin Spot ETF, China Asset Management Ethereum ETF, Harvest Bitcoin Spot ETF, and Harvest Ethereum Spot ETF.

According to Xu Yang, a partner at Tiger International Group, the introduction of these new virtual asset investment products, compliant with regulations in the Hong Kong capital market, marks a significant milestone. Yang anticipates that these additions will broaden investment opportunities in Hong Kong, potentially attracting more capital and enriching the overall breadth and depth of the local market.

Hong Kong Embraces Spot Crypto ETFs: A Gateway to Digital Asset Investment

Recently, Hong Kong authorities greenlit several spot Bitcoin and Ethereum ETFs managed by prominent firms like China Asset Management, Harvest Global, Bosera, and HashKey.

Bloomberg Intelligence analysts predict that these ETFs could accumulate around $1 billion in assets under management within the first one to two years post-launch. Although expected to attract less capital compared to their US counterparts offered by financial giants like BlackRock and Fidelity, this approval signals a positive development for Hong Kong’s digital asset landscape, positioning the region as a burgeoning hub for cryptocurrencies.

A noteworthy departure from the US market, where spot Bitcoin ETFs operate on a “cash-only” basis, the newly approved funds in Hong Kong will adopt an “in-kind” model. This model is anticipated to streamline the investment process for participants, reducing both complexities and costs associated with trading these assets.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


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