MicroBit Ether Spot ETF - MicroBit Capital Management Limited

Overview

Important Information

Investors should not make any investment decisions based on this website alone. Please refer to the Prospectus of the Fund for details including product features and the risk factors. Investment involves risks, including the loss of principal. Past performance is not indicative of future performance. There is no guarantee of the repayment of the principal. Investors should note:

MicroBit Ether Spot ETF (the “Fund”) is a sub-fund of MicroBit Funds Series (Hong Kong) ETF OFC, which is a public umbrella open-ended fund company established under Hong Kong law with variable capital with limited ‎liability and segregated liability between sub-funds. The Fund is a passively managed exchange traded fund falling under Chapter 8.6 of the Code on Unit Trusts and Mutual ‎Funds. Shares of the Fund are traded on The Stock Exchange of Hong Kong Limited (“SEHK”) like listed stocks.
The investment objective of the Fund is to aim to provide investment results that, before fees and expenses, closely correspond to the performance of the price of ether as reflected by CME CF Ether-Dollar Reference Rate – Asia Pacific Variant (the “Index”).
Ether is a virtual asset, serves as the unit of account on an open-source, decentralized, peer-to-peer computer network (“Ethereum Network”). No single entity owns or operates the Ethereum Network. Ether is not a legal tender and is not backed by any authorities, government or corporations.
The value of ether is determined by the demand for and supply of ether on ether trading platforms or in private end-user-to-end-user transactions. Please refer to the Prospectus of the Fund for further details.
In seeking to achieve the investment objective, the Fund will directly ether on certain Virtual Assets’ trading platforms that are operated by platform operators licensed by the SFC.
The Manager intends to enhance the performance of the Fund by staking up to 30% of the ether held in the portfolio of the Fund through SFC-Licensed VATPs, that can perform staking activities on its own or by engaging its affiliates or third party staking service providers.
The Fund may invest up to 100% of its assets in ether and will not invest in other types of investments except that the Fund may retain a small amount of cash (in HKD or USD) and/or cash equivalents (of up to a maximum of 10% of the Net Asset Value of the Fund) to pay for fees and other expenses and costs associated with the Fund’s ongoing operations to meet redemption requests. All of the Fund’s ether will be held by the Sub-Custodian.
The Fund will not invest in any financial derivative instruments. The Fund will not engage in borrowing, sale and repurchase transactions, reverse repurchase transactions, securities lending transactions and/or other similar over-the-counter transactions. The Manager will seek the prior approval of the SFC (if required) and provide at least one month’s prior notice to shareholders before the Manager engages in any such investments.
There is no leverage exposure to ether at the Fund level.
The Fund is passively managed and falls in the Index may cause falls in the value of the Fund. The Fund is subject to new product risk, tracking error risk and trading risk with discount or premium.
Due to the Fund’s direct exposure in ether only, it is subject to concentration risk and risks related to ether, such as ether and ether industry risk, speculative nature risk, unforeseeable risks, extreme price volatility risk, concentration of ownership risk, regulatory risk, fraud, market manipulation and security failure risk, cybersecurity risks, potential manipulation of ether network risk, forks risk, risks associated with staking, risk of illicit use, trading hours difference risk. The value of ether could decline significantly in a short period of time, including to zero. You may lose all of your investment within one day.
The Fund is subject to risks related to virtual asset trading platform (“VATP”), custody risks and risk relating to the difference between executable price of ether on SFC-licensed VATPs and Index price for cash subscription and redemption.
Please note the above list of risks is not exhaustive, please refer to the Fund’s Prospectus for details. The Fund is authorized by the Securities and Futures Commission in Hong Kong (“SFC”). Such authorization does not represent a recommendation or endorsement by the SFC.

Fund Information

Fund Inception Date	20 Aug 2025
SEHK Listing Date	21 Aug 2025
Fiscal Year	31 December
Management Fee*	0.50%
Ongoing Charges Over A Year ^#	1.5%
Distribution Frequency	No distribution will be made
Base Currency	USD
Custodian	BOCI-Prudential Trustee Limited
Virtual Asset Sub-Custodian(s)	Hash Blockchain Limited acting via its associated entity HashKey Custody Services Limited
Virtual Asset Trading Platform(s)	HashKey Exchange, operated by Hash Blockchain Limited

* Please note that these fees may be increased up to a permitted maximum on giving one month’s notice to the Shareholders. Please refer to the Fund's Prospectus for further details of the fees and charges payable and the permitted maximum of such fees allowed as well as other ongoing expenses that may be borne by the Fund.

# This is indicative only as the Fund is newly set up. The estimated ongoing charges figure ‎represents the estimated ongoing expenses chargeable to the Sub-Fund over a 12-month period expressed as a percentage of ‎the Fund’s estimated average NAV over the same period. The actual figures may be different from the estimate and may vary from year to year. For the first 12-month period from the launch of the Fund, the ongoing charges figure is capped at 1.5% of the average NAV of the Fund. Any ongoing expenses exceeding 1.5% of the average NAV of the Fund during this period will be borne by the Manager and will not be charged to the Fund.

Trading Information As of

HKD Traded Shares

USD Traded Shares

Exchange	Hong Kong Stock Exchange
Stock Code	3425
ISIN	HK0001175493
Board Lot Size	100 Shares
Trading Currency	HKD
Total Net Asset Value (HKD)¹	$
Outstanding Shares
NAV Per Share (HKD)¹	$

Exchange	Hong Kong Stock Exchange
Stock Code	9425
ISIN	HK0001175493
Board Lot Size	100 Shares
Trading Currency	USD
Total Net Asset Value (USD)	$
Outstanding Shares
NAV Per Share (USD)	$

Index Information As of

Underlying Index	CME CF Ether-Dollar Reference Rate - Asia Pacific Variant²
Index Type	Price Return
Base Currency	USD
Closing Price
Daily Change³
Daily Change %³	%

Investment Objective

The Fund’s investment objective is to aim to provide investment results that, before fees and expenses, closely correspond to the performance of price of ether as reflected by CME CF Ether-Dollar Reference Rate - Asia Pacific Variant. There can be no assurance that the Fund will achieve its investment objective.‎

The Manager intends to enhance the performance of the Fund by staking up to 30% of the ether held in the portfolio of the Fund through SFC licensed virtual asset trading platform, that can perform staking activities on its own or by engaging its affiliates or third party staking service providers. As of the date of this statement, the designated staking service provider is Wancloud Limited, operating as "HashKey Cloud", an affiliate of Hashkey Exchange. Following the deduction of any service fees, staking yields will be reinvested into the Fund. Staking is the process of validating transactions on the blockchain by locking up a committed amount of ether on the blockchain network for the purposes of the proof-of-stake consensus mechanism so as to enhance the network operation. Through participating in staking, the Fund may receive staking rewards, which are in the form of ether, from the Ethereum Network. It is expected that, in general, there is no change in the ownership of the ether held by the Fund during the staking process.

Price & Performance

ETF Prices

Intra-day Indicative NAV per Share⁴ As of

HKD

USD

Time	Indicative NAV
-	-

Time	Indicative NAV
-	-

Market Information As of

HKD

USD

	Last	Daily Change⁵	Daily Change%⁵
NAV per Share in HKD⁶	$	$	%
Market Closing Price in HKD⁷	$	$	%

	Last	Daily Change⁵	Daily Change%⁵
NAV per Share in USD	$	$	%
Market Closing Price in USD⁷	$	$	%

Performance As of

Cumulative Returns	Fund NAV (%)	Benchmark (%)
1 Month	-	-
3 Month	-	-
6 Month	-	-
1 Year	-	-
YTD	-	-
Since Inception	-	-

Calendar Year Returns	Fund NAV (%)	Benchmark (%)
2025 (Since listing to 31 December 2025)	-	-
2024	-	-
2023	-	-
2022	-	-
2021	-	-

Source: MicroBit Capital Management Limited
Past performance information is not indicative of future performance. Investors may not get back the full amount invested.
The computation basis of the performance is based on the calendar year end, Net Asset Value to Net Asset Value.
These figures show how much the Fund increased or decreased in value during the calendar year shown. Performance data has been calculated in USD including ongoing charges and excluding trading costs on SEHK you might have to pay.
Where no past performance is shown, there was insufficient data available in that year to provide performance.
The Index of the Fund is CME CF Ether-Dollar Reference Rate - Asia Pacific Variant.
Fund inception date: 20 August 2025.

Portfolio

All Holdings As of

Holding	Market Price (USD)*	Units	Market Value (USD)	Net Assets (%)
ETH	-	-	-	-
Cash	-	-	-	-

Total allocation percentages shown in “All Holdings” table may not equal 100% due to rounding or omissions of holdings of less than 1%. Information on certain holdings of less than 1% may not be widely available and hence may not be included in the table of holdings shown.

*Source: CF Benchmarks Ltd.

Graph for Tracking Difference

Tracking Difference (TD): Tracking difference is the return difference between an ETF and its underlying benchmark/ index over a certain period of time.
ETF performance is calculated on an NAV to NAV basis and assumes reinvestment of distribution.

Rolling 1 Year Tracking Difference and Tracking Error

Tracking Error (TE): Tracking error measures how consistently an ETF follows its benchmark/ index. It is the volatility (measured by standard deviation) of that return difference.

HKD Counter (HKD)

Rolling 1 Year TD

Rolling 1 Year TE

USD Counter (USD)

Rolling 1 Year TD

Rolling 1 Year TE

Month End As of

Participating Dealers⁸

China Merchants Securities (HK) Co., Limited

Eddid Securities and Futures Limited

Mirae Asset Securities (HK) Limited

Solomon JFZ (Asia) Holdings Limited

Valuable Capital Limited

Victory Securities Company Limited

Market Makers⁹

China Merchants Securities (HK) Co., Limited (for HKD Counter and USD Counter)

Eclipse Options (HK) Limited (for HKD Counter only)

Investor Education

What is Ether? What is the difference between Ether and Ethereum?

Ether (ETH) is the native cryptocurrency of Ethereum, a decentralized, open-source blockchain platform that enables smart contracts and decentralized applications (DApps). To operate, Ethereum requires computational resources, networking infrastructure, and energy, which are compensated through ETH payments.

Users pay transaction fees (called "gas" fees) in ETH to execute transactions and smart contracts, incentivizing validators to secure the network.

While ETH is the foundational currency of Ethereum, the platform also supports a diverse ecosystem of other tokens, which developers can create for various use cases. These tokens coexist within Ethereum’s broader cryptocurrency network, though ETH remains its core asset, essential for fueling transactions and operations.

What are the differences between Ether and Bitcoin?

	Bitcoin, BTC	Ether, ETH
Creation time	2009	2015 (Ethereum platform launch)
Key use	Digital currency, store of value and peer-to-peer Payments	Payment of Ethereum network transaction and smart contract execution fees.
Total supply cap	21 million tokens, with a fixed and unchangeable supply.	No fixed cap; supply fluctuates.
Technical foundation	Blockchain, Proof of Work (PoW) Halving every 4 years	Blockchain, now transitioned to Proof of Stake (PoS) Supply regulated through a burning mechanism
Supply trend	Gradually stabilizing, particularly as increased long-term holdings reduce circulating supply	Supply is more flexible due to staking and burning mechanism
Smart contract	Unsupported	Supported, allowing automatic execution of contract terms.
Ecosystems	Mainly as a currency and value storage	Support for decentralized applications (DApps), DeFi, NFTs, etc.
Market Position	The largest cryptocurrency by market capitalization	The second-largest cryptocurrency by market capitalization

What is an Ether Spot ETF?

A Ether Spot ETF (Exchange-Traded Fund) is an exchange-traded fund listed on traditional stock exchanges. An ETF is issued and managed by professional fund managers, who directly hold actual Ether spot assets. Before deducting fees and expenses, the ETF aims to provide investment returns closely linked to the Ether index, according to its investment objectives and strategies.

By purchasing shares of a Ether Spot ETF, investors can indirectly hold Ether without having to buy, store, or manage physical Ether themselves.

The main features of an Ether Spot ETF include:

Direct Ownership of Bitcoin: The fund’s asset portfolio includes actual bitcoin, and its price is closely tied to the bitcoin market price.
Trading Convenience: Investors can buy and sell ETF shares on traditional stock exchanges through brokerage accounts, just like trading stocks, without needing to use a cryptocurrency wallet or exchange.
Regulatory Compliance: Ether Spot ETFs operate within a regulatory framework, providing legal protection and transparency for investors.
Lower Barriers and Risk: Investors avoid risks associated with directly holding Ether, such as managing private keys, theft risk, and exchange security risks.
Good Liquidity: ETF shares can be freely traded during market hours, and typically offer better liquidity compared to certain cryptocurrency exchanges.

In short, a Ether Spot ETF is a regulated investment tool that allows investors to participate in bitcoin price movements easily and securely through traditional financial markets, serving as an important bridge between traditional finance and the cryptocurrency market.

Documents

Product Documents

Key Facts

Prospectus

News and Announcements

Footnote

¹ The Total Net Asset Value in HKD is indicative and for reference only and is calculated using the Total Net Asset Value in USD multiplied by the foreign exchange rate (Tokyo Composite) quoted by Bloomberg for Hong Kong dollars at 4:00 p.m. (Hong Kong time) on that dealing day.

² The Index is provided by CF Benchmarks Ltd, the Index Provider, and is based on materially the same methodology (except calculation time) as the Index Provider’s Ether-Dollar Reference Rate (“ETHUSD_RR”). The Index serves as a once-a-day benchmark rate of the price of one ether in USD (USD/ETH), calculated as of 4:00 p.m. (Hong Kong time).

³ Index returns are for illustrative purposes only and should not be taken as an indication or guarantee of future performance. Index returns do not reflect any management fees, transaction costs or other expenses. Change indicates the change since the closing index level of the previous business day. Source: CF Benchmarks Ltd.

⁴ The near real time indicative NAV per Share is indicative and for reference only. The near real time indicative NAV per Share in HKD is updated every 15 seconds during SEHK trading hours using the near real time indicative NAV per Share in USD multiplied by a real-time HKD:USD foreign exchange rate calculated by Solactive AG.

⁵ Change is calculated on NAV to NAV basis in USD and assumes dividend will not be reinvested. Change of the official NAV per Share in USD and change of the indicative NAV per Share in HKD indicate the change of the NAV per Share since the previous business day where the SEHK is opened for normal trading (the "Dealing Day"). For more information on determination of NAV, please refer to the Prospectus of the Fund. The official NAV per Share in USD is provided by BOCI-Prudential Trustee Limited.

⁶ The last NAV per Share in HKD is indicative and for reference only and is calculated using the last NAV per Share in USD multiplied by the foreign exchange rate (Tokyo Composite) quoted by Bloomberg for Hong Kong dollars at 4:00 p.m. (Hong Kong time) on that dealing day.

⁷ Change of the closing price in HKD and USD Traded Shares indicate change of closing price since the previous SEHK trading day. Source of Closing Price: Bloomberg. The official closing NAV per Share in USD will remain unchanged during the period when the SEHK is closed.

⁸ Additional Participating Dealer(s) will be appointed from time to time.

⁹ Additional Market Maker(s) will be appointed from time to time. For the latest list of Market Maker(s), please visit HKEX website.

Index Disclaimer

CF BENCHMARKS LTD INDEX DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN MICROBIT CAPITAL MANAGEMENT LIMITED PRODUCTS. CF BENCHMARKS LTD, ITS LICENSORS AND AGENTS HAVE NO OTHER CONNECTION TO MICROBIT CAPITAL MANAGEMENT PRODUCTS AND SERVICES AND DO NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY MICROBIT CAPITAL MANAGEMENT LIMITED PRODUCTS OR SERVICES. CF BENCHMARKS ITS LICENSORS AND AGENTS HAVE NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE MICROBIT CAPITAL MANAGEMENT LIMITED PRODUCTS AND SERVICES. CF BENCHMARKS ITS LICENSORS AND AGENTS DO NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY INDEX LICENSED TO MICROBIT CAPITAL MANAGEMENT LIMITED AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.

Ways to Invest in 3425 / 9425

In-cash Dealing

In-kind and In-cash Dealing

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