Hong Kong-based investment firm Victory Securities has reportedly disclosed its proposed fees to investors for Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) following the recent approval of cryptocurrency ETF products within the region.

The announcement comes even though the Hong Kong Securities and Futures Commission (SFC) has not yet published the list of approved ETF issuers.

If approved by the SFC, Victory Securities' customers will face proposed fees for Ethereum and Bitcoin ETF shares in the primary market, set at 0.5% to 1% of the total transaction, with a minimum fee of $850, according to an extract of a translated report shared by Wu Blockchain on April 20.

For investors interested in buying and selling existing ETF shares on the secondary market, the fees will be 0.15% for online transactions and 0.25% for telephone transactions.

The fees are comparable to the rates set out by United States asset managers offering spot Bitcoin ETFs. While different fees in the U.S. are waived until various times this year, asset manager Franklin Templeton has set its fee at 0.19%, while other ETFs range between 0.20% and 0.90%. 

The Grayscale Bitcoin Trust (GBTC) imposes a notably higher fee at 1.5%.

On April 15, Cointelegraph reported that Hong Kong has become the latest country to approve spot ETFs for Bitcoin and Ether.

Related: Hong Kong spot Bitcoin ETF approval draws praise and caution from industry players

At least three offshore Chinese asset managers, including Hong Kong units of Harvest Fund Management, Bosera Asset Management and China Asset Management (ChinaAMC), plan to launch their spot Bitcoin and Ether ETFs soon.

While the approval saw praise from many in the crypto community including local Hong Kong exchanges, others were more skeptical of the ETF's success within the region.

"Mainland China investors probably won’t be eligible to buy Hong Kong-listed spot bitcoin and ether ETFs as they are barred from buying virtual assets," Bloomberg ETF analyst Eric Balchunas stated in an April 17 post on X.

Magazine: Get Bitcoin or die tryin’: Why hip hop stars love crypto