RRUPDATE📍: HSBC Hong Kong Brings Bitcoin & Ether ETFs To Your Fingertips

HSBC Hong Kong has made a significant announcement, allowing its customers to engage in trading activities involving bitcoin and ether ETFs listed on Hong Kong’s stock exchange.

This move by the bank represents a major step forward and offers Hong Kong-based users a convenient option for trading crypto ETFs.

According to information obtained from screenshots of HSBC Hong Kong’s investment platform, there are three crypto ETFs available: CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.

By introducing these crypto ETFs on its platform, HSBC Hong Kong has established itself as a pioneer in the region, becoming the first bank to provide such trading opportunities. Wu confirms that the ETF listings took place on the same day the news was reported.

The CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF, both managed by CSOP Asset Management, are designed to track standardized, cash-settled Bitcoin futures contracts and Ether futures contracts traded on the Chicago Mercantile Exchange (CME), respectively.

These ETFs were officially listed on Hong Kong’s stock exchange in December of the previous year. In contrast, the Samsung Bitcoin Futures Active ETF, managed by Samsung Asset Management Hong Kong, made its debut in January.

Hong Kong has recently implemented a new licensing regime for crypto platforms, demonstrating its commitment to attracting more cryptocurrency firms to the region, especially given the increased regulatory scrutiny faced by the industry in the United States.

Reports suggest that the Hong Kong Monetary Authority (HKMA), the banking regulator in the city, is pressuring HSBC, Standard Chartered, and Bank of China — issuers of Hong Kong’s currency — to accept crypto exchanges as clients.

It remains to be seen whether other banks in Hong Kong will follow HSBC’s lead and begin listing crypto ETFs. Meanwhile, in the United States, the competition to launch a bitcoin ETF is gaining momentum, with BlackRock, Invesco, and WisdomTree submitting and resubmitting applications.

In the past, the US regulator has rejected similar proposals multiple times, mainly due to concerns surrounding potential market manipulation within the cryptocurrency industry.

As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.

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