Hong Kong-based investment firm Victory Securities has revealed its proposed fees to investors for its Bitcoin ETF spot and Ethereum ETF spot funds following their recent approval.
The announcement comes even though the Hong Kong Securities and Futures Commission (SFC) is yet to publish a list of approved ETF issuers.
If approved by the SFC, Victory Securities clients will face proposed fees on primary market Bitcoin and Ethereum ETF shares, at 0.5% to 1% of total transactions, with fees the minimum is 850 USD, according to excerpts of a report Chia by Wu Blockchain on April 20.
For investors interested in trading existing ETF shares on the secondary market, the fee will be 0.15% for online transactions and 0.25% for telephone transactions.
These fees are comparable to those charged by US asset managers offering spot Bitcoin ETFs. While various US fees were waived until various points this year, asset manager Franklin Templeton has set fees at 0.19%, while other ETFs range from 0.20% to 0.90%.
Grayscale Bitcoin Trust (GBTC) charges significantly higher fees at 1.5%.
