Hong Kong is set to launch its first spot Bitcoin and Ethereum ETFs on April 30 at 9:30 a.m. EDT, marking a significant milestone in the cryptocurrency market. Managed by ChinaAMC, Bosera, and Harvest Global Investments, these ETFs are expected to attract substantial initial inflows, with estimates ranging from $200 million to $300 million on the first day, surpassing the $125 million first-day issuance of similar ETFs in the United States. This launch is particularly notable as it includes provisions for in-kind redemptions and subscriptions, allowing for direct wallet-to-wallet transfers. However, mainland Chinese investors will be restricted from participating unless they hold a Hong Kong residence permit. The combined AUM of three futures crypto ETFs already listed on HKEX is HK$1.3 billion.