forex forum binary options trade - Forex - Hong Kong’s First Crypto Futures EFTs Raise $73.6M Ahead of Launch
  • Welcome to forex forum binary options trade. Please login or sign up.

Hong Kong’s First Crypto Futures EFTs Raise $73.6M Ahead of Launch

Started by forex4you, Dec 16, 2022, 05:08 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.


Hong Kong's First Crypto Futures EFTs Raise $73.6M Ahead of Launch

<p class="MsoNormal text-align-justify">CSOP Asset Management, an investment advisor based in Hong Kong, will launch Bitcoin and Ether futures exchange-traded funds (ETS) on the Hong Kong Stock Exchange on Friday. However, ahead of their debut, the ETFs have raised a combined $73.6 million, with the Bitcoin futures ETF alone accounting for $53.9 million, Reuters reports. </p><p class="MsoNormal">In October last year, the United States' first Bitcoin-linked futures EFT launched with a seed capital of $20 million after <a href="" target="_blank" rel="follow">approval</a> by the United States Securities and Exchange Commission.</p><p class="MsoNormal">Hong Kong Crypto Raise to Invest in Bitcoin and Ether Futures</p><p class="MsoNormal">The new ETFs, which are expected to be launched at HK$780 per unit, will invest in Bitcoin and Ether futures listed on the Chicago Mercantile Exchange in the United States. Bitcoin and Ether are currently the only digital assets approved by Hong Kong's Securities and Futures Commission (SFC). </p><p class="MsoNormal">Check out this recent Finance Magnates London Summit 2022 session on the crypto market structure.</p><p class="MsoNormal">The launch of the crypto ETFs come less than two months after the SFC <a href="" target="_blank" rel="follow">decided to permit crypto EFTs</a> in Hong Kong, diverging from the blanket ban on all crypto investments obtainable in mainland China. The Commission had said only virtual asset futures traded on conventional regulated exchanges would be permitted, with Bitcoin and <a href="" target="_blank" rel="follow">Ether futures</a> traded on CME getting the first go-ahead.</p><p class="MsoNormal">Additionally, the securities regulator previously <a href="" target="_blank" rel="follow">expressed the intention</a> to open up crypto trading services to retail customers in March 2023 to attract talent to the autonomous jurisdiction.</p><p class="MsoNormal text-align-justify">Crypto Market Upheaval</p><p class="MsoNormal">The expected launch of Hong Kong's first crypto futures ETF comes in a year the cryptocurrency industry has been weighed down by big blows, the latest being <a href="">the collapse</a> and <a href="">bankruptcy</a> of the crypto exchange, FTX. On top of that, in August, Bitcoin deposits on exchanges collapsed to <a href="">a two-year low</a>. In addition, the global market capitalization of the crypto industry sank below $1 trillion, which is down from a market cap of over $2 trillion at the start of the year. </p><p class="MsoNormal">However, despite these trends, <a href="" target="_blank" rel="follow">a new study by Eurex</a>, one of the world's largest derivatives exchanges, found that institutional adoption of cryptocurrency is still on track this year. </p>

This article was written by Solomon Oladipupo at

Source: Hong Kong's First Crypto Futures EFTs Raise $73.6M Ahead of Launch
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex. Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders  Affiliate programs  Forex4you Affiliate programs