Two exchange-traded funds (ETFs) that track bitcoin and Ethereum futures began trading on the Hong Kong Stock Exchange.
The ETFs raised a total of $73.6 million, and were launched by CSOP Asset Management.
Notably, the bitcoin fund raised about $53.9 million.
In 2021, ProShares launched its first bitcoin fund, the Bitcoin Strategy ETF in the U.S., which raised much less money – $20 million.
“After the recent liquidity problems affecting some crypto platforms, our two crypto futures ETFs demonstrate that Hong Kong is still open to virtual asset development,” said Yi Wang, head of investments at CSOP.