HSBC Hong Kong, the largest bank in the region, now allows customers to trade bitcoin and ether exchange-traded funds (ETFs) listed on Hong Kong’s stock exchange. The bank has listed three crypto ETFs on its investment platform: CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF. This move makes HSBC Hong Kong the first bank in the region to allow trading in crypto ETFs. Hong Kong recently introduced a new licensing regime for crypto platforms, aiming to attract more crypto firms as the US cracks down on the industry. The Hong Kong Monetary Authority (HKMA) is also pressuring other banks like Standard Chartered and Bank of China to accept crypto exchanges as clients. It remains to be seen if HSBC Hong Kong’s rivals will follow suit in listing crypto ETFs. In the US, there is a race for a spot bitcoin ETF, with several filings from BlackRock, Invesco, and WisdomTree. The US regulator has previously rejected similar applications due to concerns about crypto market manipulation.
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