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Hong Kong’s Pando Finance launches blockchain-themed ETF to give investors a taste of cryptocurrencies ‘with minimum risk’
- Pando Finance’s two actively-managed ETFs with a focus on virtual assets began trading in Hong Kong on Thursday
- Investors can benefit from the development of cryptocurrencies through their existing financial services, CEO says
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Hong Kong-based asset management company Pando Finance has launched a blockchain-themed exchange-traded fund (ETF) on the city’s bourse, to allow retail investors to gain exposure to the industry “with minimum risk”, less than a month after cryptocurrency exchange FTX declared bankruptcy.
Pando Finance’s two actively-managed ETFs with a focus on virtual assets – one on blockchain and the other on innovation – began trading on the Hong Kong stock exchange on Thursday.
The two ETFs started trading at HK$8 (US$1.02) on Thursday morning, a 3 per cent premium from the indicative net asset value of HK$7.77 for both funds, before ending the day at HK$7.925 each.
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“We want to provide a way for traditional investors and retail clients to gain exposure to and benefit from the development of the industry, in the most comfortable way and with minimum risk,” Ren Junfei, CEO and director of Pando Finance, said in an interview.
The two ETFs will allow investors to “place orders and enter this industry in a comfortable manner”, without having to open a cryptocurrency wallet to own tokens, she said.
“Investors can benefit from the development of this industry through the scope of their existing financial services. They will not need to open an account on Binance or other cryptocurrency exchanges, and can just place orders on their existing brokerage accounts.”
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