Hong Kong Exchanges and Clearing Limited on Tuesday announced the listing of Asia's first spot virtual asset exchange-traded funds, which will add diversity of products in the city’s markets and further support its position as the region's leading ETF marketplace by offering investors even more choice.

Investor interest in virtual asset ETFs has grown since VA Futures ETFs were first launched in late 2022. In the first quarter of 2024, the combined average daily turnover for the three VA Futures ETFs listed in Hong Kong reached HK$51.3 million (about $6.55 million), up from 8.9 million Hong Kong dollars a year earlier.

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Additionally, these three VA futures ETFs attracted HK$529 million in net inflows during the first quarter.

The listing of Asia's first spot VA ETFs will further enhance the product diversity and liquidity of the Hong Kong ETP market, said Brian Roberts of HKEX

Brian Roberts, HKEX head of Equities Product Development, said the introduction of Spot VA ETFs in Hong Kong is the latest exciting addition to HKEX's diverse and vibrant ETP (exchange-traded products) ecosystem, providing investors with access to a new asset class.

The listing of Asia's first spot VA ETFs will further enhance the product diversity and liquidity of the Hong Kong ETP market, he added.

Joseph Chan, acting secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region government, said in the future, the SAR government will continue to actively leverage Hong Kong's unique advantages to promote the depth and breadth of the development of the virtual asset market.

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The Hong Kong government will promote the diversified development of the market on the premise of ensuring the stability of the market and protecting the interests of investors, and create greater opportunities for Hong Kong's financial services industry, added Chan.