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Hong Kong’s Biggest Bank Approves Bitcoin and Ethereum ETFs

1 min
Updated by Geraint Price
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In Brief

  • Hong Kong's largest bank, HSBC, now allows trading Bitcoin and Ethereum ETFs
  • The development came after government pressured banks to support crypto.
  • The banks were reluctant about the crypto industry, citing risk factors.
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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's Virtual Asset Investor Education Center. HSBC Bitcoin ETF
Source: Twitter

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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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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