The post UBS Launches Crypto ETFs for Wealthy Clients in Hong Kong appeared first on Coinpedia Fintech News
Strategy, strategy, and more strategy! UBS Group, the Swiss banking giant, is now offering its high-net-worth clients in Hong Kong access to cryptocurrency-linked exchange-traded funds (ETFs). This initiative reflects UBS’s adaptability and is seen as a response to HSBC’s recent foray into cryptocurrencies.
Targeting UBS Wealthy Clients
According to insights from Bloomberg, UBS’s affluent clients can soon trade three crypto funds on the bank’s platform. These funds—Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs—have received approval from Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), and collectively hold $72 million in assets.
Also Read: Hong Kong to Release Circulars on Tokenized Securities and Stablecoin Regulations
Following HSBC’s Lead
UBS’s move comes shortly after HSBC announced its plan
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