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MicroBit Capital Management Limited has listed Hong Kong’s first ETF that bundles Bitcoin and gold into a single investment vehicle. The MicroBit Bitcoin & Gold Value ETF began trading on the Hong Kong Stock Exchange on August 26, with two ticker codes: 3002.HK for Hong Kong dollar-denominated shares and 9002.HK for US dollar-denominated ones.
How the fund works
The ETF is structured as a sub-fund of the MicroBit Funds Series (Hong Kong) ETF OFC. Unlike passively managed index trackers, this product uses active management with periodic rebalancing to maintain target allocations between Bitcoin and gold.
One of the more notable features is its support for in-kind subscriptions and redemptions in Bitcoin for eligible market participants. That means qualifying investors can deposit actual Bitcoin to create new ETF shares, or redeem shares to receive Bitcoin directly, rather than going through a cash-only process.
Eddid Securities and Futures Limited has been appointed as a participating dealer for the fund. Participating dealers are the intermediaries that handle the creation and redemption of ETF units, which is crucial for keeping the fund’s trading price close to its net asset value.
MicroBit CEO Wilson Fung framed the product as a bridge between traditional finance and the Web3 ecosystem, saying it meets substantial investor demand for assets that provide stability during economically challenging times.
Building on earlier moves
This launch is not MicroBit’s first foray into crypto-linked exchange-traded products. The firm introduced low-fee spot Bitcoin and Ether ETFs on August 21, 2025, roughly a year before this combined offering. Those earlier products established MicroBit’s operational infrastructure for handling virtual asset custody, compliance, and market-making on the HKEX.
Hong Kong approved its first spot Bitcoin and Ether ETFs in April 2024, and the market has expanded since then with multiple issuers competing on fees and features.
Why Bitcoin and gold together
For retail investors who want exposure to both but don’t want to manage two separate positions, rebalance manually, or deal with the operational friction of holding Bitcoin directly, a single ETF wrapper simplifies the process considerably. The active management component means MicroBit’s team adjusts the allocation mix over time rather than locking it into a static ratio.
The 0.5% management fee that MicroBit charged on its previous ETF offerings provides a rough benchmark for what investors might expect to pay for this product, though the combined fund’s fee structure may differ given the added complexity of managing two asset classes.
For institutional players, the in-kind Bitcoin subscription mechanism is particularly interesting. It allows large holders of Bitcoin to move their exposure into a regulated ETF structure without triggering a taxable sale event in certain jurisdictions, and it gives them the liquidity and reporting benefits that come with an exchange-listed product.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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