HSBC customers in Hong Kong can now buy Bitcoin (BTC) and Ethereum (ETH) futures ETFs, per crypto reporter Colin Wu.
Wu wrote:
“The move will expand local users’ exposure to cryptocurrencies in Hong Kong.“
Presently, in the region, cryptocurrency ETFs such as CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF are listed.
Tied to the rollout is the HSBC Virtual Asset Investor Education Centre, which aims to educate customers about the various risks associated with cryptocurrencies. Users wishing to buy crypto ETFs via the platform must read and “confirm the educational materials” before investing.
Hong Kong has increasingly positioned itself as a crypto-friendly jurisdiction of late. Several initiatives aim to encourage digital asset participation, including establishing an exchange licensing system, funding for web3 development, and regulatory calls for banks to treat crypto clients fairly.
Furthermore, city officials said they are committed to introducing stablecoin legislation by 2024. Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, commented that a “holistic and predictable” approach would be taken.
CryptoSlate reached out to HSBC Hong Kong for further comment it did not reply by press time.
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