Hong Kong Bitcoin and Ethereum ETFs are due to go live on the Hong Kong Stock Exchange on Monday, April 29. Mainland Chinese investors are not allowed to invest in the products, save for those with residence permits. Officials expect $300 million first-day issuance, far above $125 million seen in the US on January 11. A campaign that started in March is approaching its climax with Hong Kong’s Bitcoin and Ethereum exchange-traded funds due to hit markets on Tuesday, April 30.
There will be a whitelist verification on the transferring wallet as evidence that it belongs to the investor. Investment verification will follow, where the user's private wallet is screened for suspicious activity in the past dozens of on-chain transactions. Passing whitelist verification allows money transfer. The products will also allow wallet-to-wallet transfers between exchanges provided anti-money laundering rules of the other exchange are consistent with the OSL rules.