HSBC Hong Kong enables trading of three Ether, Bitcoin ETFs

The news was first reported by Colin Wu of Wu Blockchain on Twitter early Monday morning. “HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it,” he wrote. “The move will expand local users’ exposure to cryptocurrencies in Hong Kong.”

“Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded in the institutional market,” said Park Seong-jin, head of Samsung Asset Management Hong Kong. “It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.”

The move by HSBC comes after reports that the government of the special administrative region has begun pressuring large banks to onboard cryptocurrency exchanges as clients following the launch of retail crypto trading in Hong Kong on June 1.

Source: Digital Coin News (digitalcoinnews.net)

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