MicroBit launches Hong Kong's first bitcoin-gold ETF with 2 counters

MicroBit Capital Management listed Hong Kong's first combined bitcoin and gold ETF on HKEX on Aug. 26, offering dual HKD and USD trading counters.

"By combining bitcoin's digital-asset potential with gold's established role as a store of value, the fund offers investors a forward-looking, diversified allocation tool," Wilson Fung, chief executive officer of MicroBit Group, said.

The actively managed fund trades under tickers 3002.HK (HKD) and 9002.HK (USD) on the Stock Exchange of Hong Kong. It supports in-kind subscriptions and redemptions in bitcoin, giving eligible market participants added flexibility. Gold exposure is designed to help stabilize overall portfolio volatility while bitcoin provides long-term digital-asset appreciation potential.

The listing follows MicroBit's earlier crypto ETF launches and builds on Hong Kong's expanding crypto ETF market. The fund operates as a sub-fund of MicroBit Funds Series (Hong Kong) ETF OTC, authorized by the Securities and Futures Commission. MicroBit holds SFC Type 1, 4, and 9 licenses and is subject to additional Virtual Asset Fund Manager terms and conditions imposed by the regulator.

The dual-asset structure distinguishes the product from existing single-asset crypto ETFs listed in the city, including those from Harvest Global Investments and China Asset Management. Hong Kong approved spot bitcoin and ether ETFs in 2024, positioning the city as a regulated digital-asset hub in Asia. The combined bitcoin-gold structure adds a commodity hedge component that single-asset crypto ETFs do not offer, potentially attracting investors seeking inflation protection across both digital and traditional stores of value.

The in-kind bitcoin subscription mechanism allows authorized participants to create and redeem units using bitcoin directly, rather than requiring cash settlement. This feature could reduce friction for institutional investors holding bitcoin who seek regulated exposure to both asset classes. The fund's periodic rebalancing between bitcoin and gold is managed actively, with allocation decisions based on market conditions.

The launch comes as Hong Kong's crypto ETF market expands beyond the initial spot bitcoin and ether products approved in 2024. The city's regulatory framework, including the SFC's VAFM regime, has attracted asset managers seeking to offer digital-asset products within a regulated exchange environment. The dual-asset ETF could set a precedent for similar hybrid products in other Asian financial hubs, including Singapore and Japan, where regulators are evaluating crypto ETF frameworks.

MicroBit said it will continue to explore new investment solutions and is committed to providing investors with a broader range of diversified tools. The firm specializes in thematic investing across virtual assets and frontier technologies, serving institutional investors, family offices, high-net-worth individuals, and retail investors.

This article is for informational purposes only and does not constitute investment advice.