As Hong Kong envisions becoming a regional crypto hub, the largest bank in the territory, HSBC, finally opened up its doors to allow trading Bitcoin (BTC) and Ethereum (ETH) Exchange Traded Funds (ETF)
While some of the largest fund managers are racing to approve their ETFs, Hong Kong’s HSBC bank will facilitate buying and selling Bitcoin and Ethereum ETFs.
HSBC Becomes First Bank in Hong Kong to Allow Bitcoin ETFs
According to Wu Blockchain, HSBC will allow its customers to trade Bitcoin and Ethereum ETFs listed on the Hong Kong exchange.
The ETFs include CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.
Also, to protect investors, HSBC has launched a Virtual Asset Investor Education Center. The bank will allow investors to trade crypto-related products only after they read and confirm they understand the educational material.
HSBC and other banking institutions in Hong Kong were reluctant to embrace crypto. But after pressure from regulators, the bank finally opened its door to Bitcoin and Ethereum ETFs.
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