The Pandy Bitcoin ETF (2818) commenced trading on the Hong Kong Stock Exchange, registering a significant intraday surge of over 13% during its first trading session. The fund closed at 7.98 Hong Kong dollars (HKD) with a daily gain of 1.64%, demonstrating robust initial market interest in the cryptocurrency investment vehicle.
Pandy’s CEO Ren Junfei concurrently announced plans to develop a spot Ethereum ETF featuring extended functionalities beyond conventional spot holdings. This forthcoming product signals the firm’s ambition to broaden its cryptocurrency investment offerings amidst evolving market demand.
The newly listed Bitcoin ETF operates as a passive fund directly holding Bitcoin assets. It debuted at approximately 7.8512 HKD per unit and carries a 1% annual management fee. BOCI Prudential Trustee Limited serves in a key operational capacity for the exchange-traded fund.