UBS Allows Crypto ETF Trading for Select Hong Kong Clients

ETF Hong Kong
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Jai Pratap
Author Categories
About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
ubs-hong-kong
Source: AdobeStock / lenscap50

UBS Group AG has joined rivals such as HSBC Holdings Plc, in extending an invitation to select clients in Hong Kong to trade specific crypto-linked exchange-traded funds (ETFs).

The decision aligns with Hong Kong’s recent efforts to establish itself as a digital-asset hub, with the Securities and Futures Commission (SFC) authorizing three crypto ETFs for accessibility on UBS’s Hong Kong platform.

UBS Clients Can Trade SFC-Authorized Crypto ETFs

As of this Friday, affluent clients will have access to the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures ETFs, Bloomberg reported citing a source familiar with the matter.

These offerings come with an additional educational component, allowing clients to familiarize themselves with potential risks associated with cryptocurrency investments.

UBS, however, has chosen to remain tight-lipped about the development.

This move coincides with Hong Kong’s rollout of a digital-asset regulatory framework on June 1, aimed at safeguarding investors while fostering a conducive environment for the growth of the crypto sector.

Currently, the SFC permits retail investors to trade major tokens on licensed exchanges, with an ongoing assessment regarding the inclusion of spot crypto ETFs in the regulatory purview.

JPEX Scandal Prompts Heightened Scrutiny in Hong Kong

Despite the city’s efforts to position itself as a forward-thinking financial center, recent setbacks, such as the alleged fraud and subsequent blowup of the unlicensed JPEX exchange, have prompted heightened scrutiny.

In response, Hong Kong has established a joint SFC-police task force to monitor suspicious activities within the crypto industry.

While the crypto sector is recovering from the market turmoil of 2022, with notable collapses like FTX platform’s bankruptcy, there are signs of cautious engagement by global financial institutions.

DBS Group Holdings Ltd. has expressed intentions to seek a license for offering crypto services to Hong Kong customers, while ZA Ban., Hong Kong’s largest virtual bank, plans to introduce token-to-fiat currency conversions through licensed platforms.

As reported earlier, SEBA Bank secured a license for its unit to provide crypto services in Hong Kong.

The introduction of the CSOP Bitcoin Futures and CSOP Ether Futures funds in December, touted as Asia’s first listed Bitcoin and Ether futures ETFs, has amassed a combined asset value of around $70 million, indicating a tempered interest in crypto compared to the exuberance of the pandemic-era market boom.

More Articles

Altcoin News
Brazil’s B3 Stock Exchange to Launch Bitcoin Options and Futures for ETH and SOL
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-10 12:05:00
Bitcoin News
University of Austin Launches $5M Bitcoin Investment Fund for Endowment
Hassan Shittu
Hassan Shittu
2025-02-10 11:06:46
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors