Prior to their launch on the regional stock exchange, Hong Kong’s first cryptocurrency-based exchange-traded funds (ETFs) have gathered almost $73 million.
Despite the industry’s present problems, two ETFs tracking bitcoin futures listed in the US have just been launched.
Bitcoin and Ether Futures ETFs Launch in Hong Kong Before making its debut on the Hong Kong stock exchange on Friday, two ETFs tracking cryptocurrency futures raised a combined $73.6 million, with the biggest one raising $53.9 million, according to Reuters.
The only cryptocurrencies currently permitted by Hong Kong’s Securities and Futures Commission (SFC) are bitcoin (BTC) and ether (ETH) futures listed on the CME exchange in the United States. The funds are provided by CSOP Asset Management.
The SFC is subsequently “actively exploring” to build a regulatory framework that would permit the trading of crypto futures exchange-traded funds, according to Deputy CEO of the Commission Julia Leung, who was quoted in November.