Asian digital asset pioneers – Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF are officially listed, starting a new era of virtual asset investment

HONG KONG, April 30, 2024 /PRNewswire/ — Harvest Global Investments Limited (referred to as HGI) officially listed the Harvest Bitcoin Spot ETF (HKD counter security code: 03439; USD counter security code: 09439) and Harvest Ether Spot ETF (HKD counter security code: 03179; USD counter security code: 09179) in Hong Kong today. As Asia’s first-mover Bitcoin spot ETF and Ether spot ETF, the official listing of these two major blue-chip cryptocurrency ETF products signifies that the Asian cryptocurrency asset industry has officially entered a new investment era with lower entry barriers compliance, and transparency.

Bitcoin is often regarded as “digital gold”, and Ethereum as the foundational platform for smart contracts and decentralized applications, essential to blockchain technology. HGI continually innovates, focusing on providing investors with more investment choices and broader opportunities for wealth creation. The official listing of the Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF is another solid step by HGI to leverage the high-growth potential market, and a historic achievement in Hong Kong’s digital finance area, pushing the investment in Bitcoin to new era.

Since their inception, blue-chip cryptocurrencies have always posed certain transaction barriers for most ordinary investors. The Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF address two major pain points of past virtual asset investments: on one hand, investors can directly participate in the global Bitcoin and Ether markets through traditional stock brokerage accounts, eliminating complex contracts and simplifying processes, significantly reducing investment technical thresholds and operational risks, and lowering cost rates; on the other hand, due to the regulated nature of ETFs, the investment paths of the Bitcoin Spot ETF and Ether Spot ETF are transparent, effectively decreasing risk that might arise from irregular operations or custody issues on trading platforms, and directly investing in the legally traded Bitcoin and Ether spot markets in Hong Kong, closely reflecting the immediate value of these two major cryptocurrencies. This provides market investors with a low-barrier, low-cost, low-risk, and highly flexible way to participate and capitalize on the potential growth of digital assets.

Additionally, the global innovation of the subscription/redemption models using Bitcoin and Ether sets a new path for global investors that is regulated, transparent, and efficient, opening a new chapter in the integration of digital assets with traditional financial systems.

The launch of the Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF showcases Hong Kong’s advantages as a global leader in international finance and business hubs, injecting fresh vitality into the Asian traditional capital market. Under Hong Kong’s open policies and strict regulation, HGI, as a pioneer in the asset management field, will lead global investors in connectivity and collaboration, jointly stepping into a new era of digital asset investment.

About Harvest Global Investments Limited

Harvest Global Investments Limited (HGI) was incorporated in Hong Kong in 2008. It was among the first group of Chinese asset managers to establish operations outside of mainland China. As the frontier of overseas investments of the Harvest Fund, HGI has deep insights into Asia and China’s financial markets while offering comprehensive investment solutions for global investors.

IMPORTANT: Investment involves risks, including possible loss of principal amount invested. Past performance or any prediction or forecast is not indicative of future results. Investors should read the offering documents of Harvest Bitcoin Spot ETF and Harvest Ether Spot ETF (collectively the “Sub-Funds”) for further details, including the risk factors, before investing. Investors should not base investment decisions on this material alone. Investors should note:

  • The Products:  The Sub-Funds are passively managed exchange traded funds which directly hold bitcoin and ether respectively.
  • Risks relating to bitcoin/ether: The Sub-Funds are exposed to the risks of bitcoin and ether respectively through their respective investments in bitcoin and ether directly, and the risks which adversely affect the price of bitcoin/ether may also affect the value of the Sub-Funds.
  • Bitcoin/ether and bitcoin/ether industry risk: Bitcoin/ether operates without central authority and is not backed by any government. Bitcoin and ether are relatively new innovations and the markets for bitcoin and ether are subject to rapid price swings, changes and uncertainty.
  • Speculative nature risk: Investing in bitcoin/ether is highly speculative, and market movements are difficult to predict.
  • Extremely high volatility risk: An investment in bitcoin/ether can be highly volatile compared to investments in traditional securities and an investment in the Sub-Funds may experience sudden and substantial losses. Investors should be prepared to lose the full principal value of their investment within a single day.
  • Fraud, market manipulation and security failure risk: Bitcoin/ether may be subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact virtual asset’s trading platforms. The occurrence of any of the above may have negative impact on the price of bitcoin/ether and the value of the Sub-Funds’ investments.
  • Cybersecurity risks: Bitcoin/ether is susceptible to theft, loss and destruction. Bitcoin/ether transactions are typically not reversible without the consent and active participation of the recipient of the transaction. The Bitcoin/Ethereum Network is also vulnerable to various deliberate cybersecurity attacks. Cybersecurity risks of the bitcoin/Ethereum protocol and of entities that custody or facilitate the transfers or trading of bitcoin/ether could result in a decline in the value of bitcoin/ether.
  • Regulatory risk: The regulation of bitcoin/ether, virtual assets and related products and services continues to evolve. Regulatory changes and actions with respect to virtual assets generally or any single virtual asset in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the bitcoin/ether.
  • Fork risk: Developers may propose modifications to the Bitcoin/Ethereum Network from time to time. If the updated Bitcoin/Ethereum Network is not compatible with the original bitcoin/Ethereum software and a sufficient number (but not necessarily a majority) of users and miners elect not to migrate to the updated Bitcoin/Ethereum Network, this would result in a “hard fork” of the Bitcoin/Ethereum Network, resulting in the existence of two versions of Bitcoin/Ethereum Network running in parallel and a split of the blockchain underlying the Bitcoin/Ethereum Network. The occurrence of such “fork” may result in an adverse impact on the price and liquidity of bitcoin/ether and the value of the Sub-Funds’ investments.
  • Virtual asset’s trading platform risk: Virtual asset’s trading platforms have in the past, and may in the future, collapse, stop operating or temporarily or permanently shut down due to fraud, cybersecurity issues, manipulation, security breaches. The potential consequences of failures of virtual asset’s trading platforms could adversely affect the value of bitcoin/ether and in turn the value of the Sub-Funds.
  • Cybersecurity risk in relation to the custody of virtual assets: The security procedures in place for the custody of virtual assets may not be able to protect against all errors, software flaws or other vulnerabilities in the Sub-Funds’ technical infrastructure, which could result in theft, loss or damage of the Sub-Funds’ assets.

Index disclaimer: CF Benchmarks Ltd index data is used under license as a source of information for certain Harvest Global Investments Limited’s (“HGI”) products. CF Benchmarks Ltd, its licensors and agents have no other connection to HGI’s products and services and do not sponsor, endorse, recommend or promote any HGI’s products or services. CF Benchmarks Ltd, its licensors and agents have no obligation or liability in connection with HGI’s products and services. CF Benchmarks Ltd, its licensors and agents do not guarantee the accuracy and/or the completeness of any index licensed to HGI and shall not have any liability for any errors, omissions, or interruptions therein.

The Sub-Funds are authorized by the Securities and Futures Commission in Hong Kong (“SFC”). Such authorizations do not imply official recommendation by the SFC.

This material is published by HGI and has not been reviewed by the SFC.

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