Three cryptocurrency exchange-traded funds (ETFs) have been approved by the Swiss bank in Hong Kong, which is implementing regulations on digital assets with the goal of safeguarding investors and promoting the growth of a hub. The Securities and Futures Commission (SFC) has approved substantial token trading by ordinary investors on licenced exchanges under the new regulations. At the moment, the agency approves ETFs based on futures.
The goal of Hong Kong’s cryptocurrency pivot is to help the city regain its reputation as a cutting-edge financial hub, although setbacks have been experienced due to the recent $1.5 trillion market crash in 2022 and high-profile failures like the bankruptcy of a significant exchange. Financial institutions all across the world are demonstrating signs of greater participation with the crypto economy in spite of these obstacles. Among the recently introduced ETFs are the CSOP Bitcoin Futures and CSOP Ether Futures funds.