According to Bloomberg, the Swiss bank has authorized three crypto ETFs in Hong Kong, as the city rolls out a digital-asset regulatory regime aimed at protecting investors and fostering the development of a hub. Under the new rules, the Securities and Futures Commission (SFC) allows retail investors to trade major tokens on licensed exchanges. The agency currently permits futures-based ETFs.
Hong Kong's crypto pivot is intended to help restore its image as a cutting-edge financial center, but the recent $1.5 trillion market rout in 2022 and high-profile collapses like the bankruptcy of a major exchange have caused setbacks. Despite these challenges, financial institutions worldwide are showing signs of increased engagement with the crypto economy. The CSOP Bitcoin Futures and CSOP Ether Futures funds are among the newly launched ETFs.