In Hong Kong, Victory Securities has announced the fees for Bitcoin and Ethereum exchange-traded funds (ETFs) for investors. This comes after the recent approval of crypto ETF products in the region. Even though the Hong Kong Securities and Futures Commission (SFC) hasn't released a list of approved ETF issuers yet, Victory Securities went ahead with the announcement.

For those interested in primary market shares of Ethereum and Bitcoin ETFs, Victory Securities will charge fees ranging from 0.5% to 1% of the total transaction, with a minimum fee of 850 USD. This is subject to approval by the SFC. The news was shared through a translated report by Wu Blockchain on April 20. In the secondary market, fees for buying and selling existing ETF shares will be 0.15% for online transactions and 0.25% for phone transactions. These fees are similar to those set by U.S. asset managers for spot Bitcoin ETF funds.

The Grayscale Bitcoin Trust (GBTC) fund, on the other hand, imposes a high fee of 1.5%, which has led to selling pressure on the fund. Hong Kong's approval of spot Bitcoin and Ethereum ETF funds on April 15 has prompted at least three offshore Chinese asset managers, including the Hong Kong units of Harvest Fund Management, Bosera Asset Management, and China Asset Management (ChinaAMC), to plan the launch of their own ETF funds soon.

While the crypto community and local Hong Kong exchanges have praised the approval, some remain skeptical about the success of ETFs in the region. Bloomberg ETF analyst Eric Balchunas, in a post on X on April 17, expressed doubts, suggesting that Chinese investors, who are restricted from purchasing crypto assets, might not be able to buy the spot Bitcoin and Ethereum ETF funds listed in Hong Kong.

In conclusion, Victory Securities has disclosed the fees for crypto ETFs in Hong Kong, marking a significant development in the region's investment landscape. Despite optimism from some quarters, concerns linger about the accessibility of these ETFs to certain investors.