MicroBit launches Hong Kong’s first combined Bitcoin and gold ETF on HKEX

MicroBit Capital Management Limited has listed Hong Kong’s first ETF that bundles Bitcoin and gold into a single investment vehicle. The MicroBit Bitcoin & Gold Value ETF began trading on the Hong Kong Stock Exchange on August 26, with two ticker codes: 3002.HK for Hong Kong dollar-denominated shares and 9002.HK for US dollar-denominated ones. How the fund works The ETF is structured as a sub-fund of the MicroBit Funds Series (Hong Kong) ETF OFC. Unlike passively managed index trackers, this product uses active management with periodic rebalancing to maintain target allocations between Bitcoin and gold. One of the more notable features is its support for in-kind subscriptions and redemptions in Bitcoin for eligible market participants. That means qualifying investors can deposit actual Bitcoin to create new ETF shares, or redeem shares to receive Bitcoin directly, rather than going through a cash-only process. Eddid Securities and Futures Limited has been appointed as a participating dealer for the fund. Participating dealers are the intermediaries that handle the creation and redemption of ETF units, which is crucial for keeping the fund’s trading price close to its net asset ...