TechFlow reported, according to Bloomberg, that as Hong Kong pushes forward with its development as a digital asset hub, UBS Group and HSBC Holdings are among competitors allowing their Hong Kong clients to trade certain exchange-traded funds (ETFs) linked to cryptocurrencies. Sources said that starting Friday, wealthy clients will be able to purchase on UBS's Hong Kong platform three Hong Kong Securities and Futures Commission-approved crypto ETFs: the Samsung Bitcoin Futures Active Fund, CSOP Bitcoin Futures ETF, and CSOP Ether Futures ETF.
The CSOP Bitcoin Futures and CSOP Ether Futures ETFs, launched in December last year, were hailed as Asia’s first listed Bitcoin and Ethereum futures ETFs. The combined assets under management of these two funds and Samsung’s investment product remain relatively small, at around $70 million.
