HSBC Hong Kong has launched a new service for its customers in the city, allowing them to trade in crypto ETFs. This marks the first time a bank in Hong Kong has offered such a service. The available ETFs include the CSOP Bitcoin Futures ETF, the CSOP Ethereum Futures ETF, and the Samsung Bitcoin Futures Active ETF.
These ETFs are listed on the Hong Kong Stock Exchange, providing investors with the opportunity to gain exposure to Bitcoin and Ethereum futures.
HSBC’s decision to offer trading in crypto ETFs is seen as a sign of the bank’s growing acceptance of cryptocurrencies. In recent years, HSBC has been cautious about cryptocurrencies, but it has gradually warmed to the asset class.
In 2021, the bank said that it had no plans to start a cryptocurrency trading desk or sell digital currencies as an investment to customers. However, the bank has since said that it is open to exploring ways to offer crypto-related products and services to its customers.
It is still too early to say how popular crypto ETFs will be in Hong Kong. However, the launch of these products is a sign that the city is becoming more open to cryptocurrencies. It is possible that other banks in Hong Kong will follow HSBC’s lead and start offering crypto-related products and services in the future.
