![](https://cdn.statically.io/img/www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F3%2F2%2F8%2F2%2F47622823-2-eng-GB%2F2021-10-27T064506Z_238477630_RC23IQ9X6XFK_RTRMADP_3_FINTECH-CRYPTO-CHINA.jpg?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms)
HONG KONG -- Six crypto-focused exchange-traded funds went public for the first time in Hong Kong on Tuesday, spelling potential competition for popular bitcoin products in the U.S. and symbolizing the city's ambition to become a hub for digital assets.
In early trading, three of the six ETFs, which are based on either bitcoin or Ethereum, climbed over 3% from their net asset values per share. A senior executive from one of the issuers said the launch value was a collective $250 million.