Next Friday, the administrative region of the People’s Republic of China, Hong Kong, will be the first bitcoin and Ethereum ETFs (exchange-traded funds) will be listed.
CSOP, a subsidiary of ETF issuer China Southern Asset Management, has announced that its BTC and ETH ETFs will emulate the CME futures market. The new crypto funds have raised a total of $74 million despite low market prices and growing concerns around the bankruptcy of the FTX exchange.
Tim McCourt, Head of Forex and Global Equity Products at CME, said that the start of listing ETFs in the Asian continent for digital assets. “a big step” mentioned that.
“The listing of CME ETFs in different parts of the world shows that demand is increasing day by day as our company offers transparent and reliable contracts.”
McCourt boasts about ETFs, but not all is well in this area. Cosmos Asset Management announced last month that it has delisted three ETFs. US-based Van Eck, on the other hand, announced that the market value of its Digital Asset Mining ETF is shrinking and it is reviewing the continuity of the fund.
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