As per the latest development, a pair of Hong Kong exchange-traded funds (ETFs) investing in BTC and ETH futures has raised $79 million in total. This means Asian crypto investors are to get their first listed Bitcoin and Ether futures ETFs.
Later today, the CSOP Bitcoin Futures and CSOP Ether Futures ETFs will be listed. These ETFs have raised $59 million and $20 million in initial investments respectively, as per the statement issued by CSOP Asset Management Ltd.
This pair of Hong Kong exchange-traded funds investing in Bitcoin and Ether pushes ahead Hong Kong’s plans of becoming a crypto hub. Additionally, these new ETFs offer the region a regulated environment for accessing contracts traded on the CME Group platform.
During the 2021 bull run, cryptocurrency exchange-traded products were in massive demand due to the boon in token prices. However, amid the crypto winter of 2022 and strong regulatory action, the demand for these products has dropped as liquidity has dried up in the
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