HSBC Hong Kong Enables Trading of Bitcoin and Ethereum ETFs

HSBC Hong Kong, the largest bank in Hong Kong, has allowed its customers to buy and sell exchange-traded funds (ETFs) based on Bitcoin (BTC) and Ethereum (ETH). According to information from Chinese blockchain journalist Colin Wu, HSBC will specifically offer cryptocurrency ETFs listed on the Hong Kong Stock Exchange. The exchange has three cryptocurrency ETFs: CSOP Bitcoin Futures, CSOP Ethereum Futures, and Samsung Bitcoin Futures Active.

In this way, HSBC became the first bank in Hong Kong to allow its customers to buy and sell Bitcoin and Ethereum ETFs listed on the exchange. The measure aims to expand local users’ exposure to cryptocurrencies in Hong Kong.

The permission to buy and sell cryptocurrencies for customers comes along with the launch of the Virtual Asset Investor Education Center. The initiative is designed to protect investors from risks related to cryptocurrencies by requiring them to read and confirm educational materials and risk information before investing.

Early on Monday morning, Colin Wu of Wu Blockchain posted the news to Twitter.

SCOOP: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. pic.twitter.com/vH0LieSVGw

— Wu Blockchain (@WuBlockchain) June 26, 2023

Text of the Tweet:

> SCOOP: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. pic.twitter.com/vH0LieSVGw — Wu Blockchain (@WuBlockchain) June 26, 2023.