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The most important news today is that China Asset Management (Hong Kong), Harvest Asset Management and Bosera Funds have obtained approval from the Hong Kong Securities Regulatory Commission and are allowed to provide virtual asset management services to investors.
There are plans to issue ETF products that can invest in spot Bitcoin and spot Ethereum.
China Asset Management (Hong Kong) Co., Ltd. (“China Asset Management (Hong Kong)”) is a wholly-owned subsidiary of China Asset Management Co., Ltd. It was incorporated in Hong Kong in September 2008 and is one of the first Chinese fund companies approved to conduct asset management business in Hong Kong.
China Asset Management (Hong Kong) is also one of the first RQFII fund managers, and in 2015 it obtained the "Qualification of Overseas Trustee of Insurance Funds" from the China Insurance Regulatory Commission, becoming the first Chinese fund company to provide overseas investment management services to insurance institutions.
China Asset Management (Hong Kong) and its partners OSL Digital Securities Co., Ltd. and custodian BOCI Prudential Trust Co., Ltd. are conducting research and deployment on this. In addition, OSL is the exclusive trading and custody partner for the Bitcoin and Ethereum spot ETFs launched by China Asset Management in Hong Kong.
Harvest International announced the approval news shortly afterwards, and has obtained listing license for Bitcoin and Ethereum ETFs. Harvest International is a subsidiary of Harvest Fund established in Hong Kong in 2008.
Harvest Fund, the headquarters of the company, was established in March 1999 and is one of the ten earliest fund management companies established in my country.
Bosera Asset Management Co., Ltd. is one of the first five fund management companies established in mainland China. It is headquartered in Shenzhen and has branches in Beijing and Shanghai. Bosera Asset Management Co., Ltd. has an asset management scale of nearly 200 billion yuan. Its business scope includes fund raising, fund sales, asset management and other businesses permitted by the China Securities Regulatory Commission.
The good news for Bosera is that the Hong Kong Securities Regulatory Commission has conditionally approved two virtual asset spot ETFs jointly issued and managed by HashKey Capital and Bosera Funds (International) Co., Ltd.: Bosera HashKey Bitcoin ETF and Bosera HashKey Ethereum ETF.
These two digital asset spot ETF products will effectively solve problems such as excessive margin requirements, price premiums caused by lack of short positions, and rolling losses, thereby more accurately reflecting the real-time value of Bitcoin.
After listing on the Hong Kong Stock Exchange, the two ETFs will track the prices of Bitcoin and Ethereum respectively, and adopt a "physical" subscription mechanism, allowing investors to subscribe to ETF shares directly using Bitcoin and Ethereum.
Bosera International will serve as the fund manager of the above two ETFs, and HashKey Capital will serve as the deputy fund manager of the above ETFs.
The key points of the above news are:
1. The Chinese background of the three companies. The Chinese background can strongly reflect the government's attitude towards the encryption field, which is friendly and embracing. Technological competitiveness belongs to the category of future competitiveness, which is an area that no old or rising power will give up. So whether you want to keep up with the trend depends on whether you have the wisdom to understand the future trend. If you feel that you don't have it, then at least you should be able to follow.
2. Physical subscription mechanism. Physical subscription of cryptocurrencies will further boost the market demand for spot cryptocurrencies. The amount of money in this round of the entire crypto market will be so much that many people cannot imagine it. However, the more fish there are in this financial river, the bigger the storm will be. If you are not careful, you will be swallowed up. It is better to ask yourself whether you have the ability to withstand the storm now?
A bull market pullback is an opportunity to give away money for those who understand. The deeper the pullback, the more retail investors will be washed out. The lighter the car will be, and the deeper it falls, the faster and higher the rebound will be.
But for those who don’t understand, uncertainty and deep-rooted fear are stumbling blocks on the road to progress.
As the saying goes, it takes three years to enter the industry, five years to understand the industry, and ten years to become the king.
If you have been struggling in this market for many years but still know nothing about the rules of the market, don’t know where the bull market starts, what will happen in the process, and when the bull market will end, it only means that you have not found the way yet.
It is easy to enter the circle but difficult to become an expert. The crypto market has become more and more complicated with the involvement of global asset management giants and national team players.
By the way, the opportunity for ordinary people to use Bitcoin has passed, but other high-quality targets still give you the opportunity to achieve twice the result with half the effort, but it is not easy to choose.
The weekly volatility of Bitcoin has made the general public truly realize what it means to be a copycat and have a bloodbath. However, is there really no chance other than fear?
Yesterday's stop in the decline was an excellent opportunity to cover long-term high-quality stocks. Did you seize this opportunity?
Choice is always more important than hard work. Whether it is choosing who to walk with, or choosing the target and the timing of entry, it will determine how much you will gain in this bull market, and whether you will win or lose.
If the target is well selected, the timing of entry is correct, and there is a large room for growth, it can be achieved in the spot market with low risk and greater possibility of making a small investment for a big gain.
Failure caused by insufficient cognition comes from information gaps, which is essentially due to disconnection between circles.
It is important to embrace a professional circle, which will help you take off and turn around quickly.
You can consult Soft Candy if you have any questions. WeChat: mcty9325
