On 18 July 2025, Hong Kong announced the listing of licensed virtual asset manager Pando Finance’s Bitcoin exchange-traded fund (ETF) on the Hong Kong Stock Exchange’s main board. This event, set against a backdrop of increasing regulatory clarity and a notable cryptocurrency bull run, indicates a continuing trend of mainstream integration and broader investor participation in the digital asset market.
Desmond Yong, legal and compliance director at ChainUp, shared his insights with Nikkei Asia, emphasizing the significance of such investment vehicles, “Crypto ETFs offer an alternative way for investors to gain exposure to digital assets, particularly useful for institutional or regulated investors who, due to compliance or operational constraints, are unable to hold cryptocurrencies directly. By wrapping digital assets in a familiar structure like an ETF, these products open the door for broadening participation in the digital assets market.”
The Hong Kong dollar-denominated ETF, which tracks the Bitcoin Reference Rate by Chicago’s CME CF Cryptocurrency Benchmarks, commenced trading with a 2.3% rise, reflecting investor interest. This listing takes place as the global cryptocurrency landscape continues to evolve. Bitcoin has reportedly reached an all-time high of $123,000 on 15 July 2025. This performance is occurring alongside a generally supportive stance from the current U.S. administration toward crypto assets, contributing to positive market sentiment.
The continued expansion of Bitcoin ETF listings in Hong Kong represents a further step toward a more mature and regulated digital asset ecosystem. These products aim to provide investors with structured and compliant avenues for engaging with the evolving cryptocurrency market.
Read the full Nikkei Asia article here: https://asia.nikkei.com/Spotlight/Cryptocurrencies/Hong-Kong-lists-first-bitcoin-ETF-in-2025-amid-cryptocurrency-bull-run
