According to information provided by the press, customers of HSBC Hong Kong can now trade Bitcoin and Ethereum futures through Exchange Traded Funds (ETFs), expanding access to digital asset derivative instruments in the emerging cryptocurrency hub in Asia.
On June 26th, exchange-traded funds (ETFs) traded as securities were listed on HSBC Hong Kong’s “Easy Invest” mobile application. This innovation will provide traders with exposure to Bitcoin and Ethereum futures contracts based on derivative contracts traded on commodity exchanges.
According to Colin Wu, a prominent cryptocurrency journalist in China, HSBC is the largest bank in Hong Kong and the first bank to allow its customers access to digital asset ETFs.
Despite the strong demand for spot access to cryptocurrencies among retail investors in Hong Kong, according to Mr. Feng, the demand for derivative instruments is equally if not greater.