Ethereum

Bitcoin

<div class="coinjournal">
 <p>Swiss multinational investment bank UBS Group is set to enable select high-net-worth clients in Hong Kong to trade crypto-linked exchange-traded funds (ETFs).</p>
 <p>The move is aimed at keeping pace with its competitor, HSBC, which has already incorporated three crypto-related futures ETFs on its investment platform in the city. The authorized ETFs, including Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, have received the green light from Hong Kong’s Securities and Futures Commission.</p>
 <h2 id="ubs-following-in-hsbc-s-footsteps">UBS following in HSBC’s footsteps</h2>
 <p>The largest bank in Hong Kong, HSBC, has long been a participant in the crypto market. It recently announced that it would start offering Bitcoin and Ethereum ETFs in Hong Kong.</p>
 <p>The strategic move by UBS underscores the growing importance of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies in the financial sector and reflects the increasing demand from high-net-worth individuals for exposure to digital assets.</p>
 <h2 id="crypto-regulation-framework-in-hong-kong">Crypto regulation framework in Hong Kong</h2>
 <p>Hong Kong’s <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> regulatory landscape is evolving to accommodate the rising interest in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. The Securities and Futures Commission (SFC) is reportedly contemplating granting retail access to spot ETFs directly investing in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency.</p>
 <p>Julia Leung, the CEO of the SFC, highlighted the regulator’s openness to proposals utilizing innovative technology to enhance efficiency and customer experience. Recent updates from the SFC include broader investor engagement in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ETFs, with a knowledge test requirement for virtual assets for most <a rel="noopener noreferrer nofollow" title="clients" href="https://thebittimes.com/tag/clients.html">clients</a>, while exempting institutional investors and qualified corporate professional investors.</p>
 <p>In June, Hong Kong officially implemented its crypto licensing regime for virtual asset trading platforms. This regulatory step paved the way for licensed exchanges like HashKey and OSL to offer retail trading services.</p>
 <p>The inclusion of major financial institutions like UBS and HSBC in Hong Kong’s <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market reflects a broader trend of traditional financial players acknowledging and participating in the digital asset space.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ubs-joins-hsbc-in-offering-crypto-futures-etfs-to-wealthy-clients-in-hong-kong-tbt69823.html">https://thebittimes.com/ubs-joins-hsbc-in-offering-crypto-futures-etfs-to-wealthy-clients-in-hong-kong-tbt69823.html</a></p>

UBS joins HSBC in offering crypto futures ETFs to wealthy clients in Hong Kong

Table of Contents

TheBitTimes

Other articles published on Nov 10, 2023

Wallet crypto bot rolls out on Telegram in Colombia, SA and Kenya

ETH spot volumes at highest level since FTX collapse

Crypto Economics

Polygon (MATIC) Could Bring 3x Returns Compared to Bitcoin (BTC), Analyst Says

Poloniex Crypto Exchange Reportedly Hacked for Over $100 Million

Binance to halt ruble deposits effective Nov. 15

Join our free newsletter for daily crypto updates!