The Swiss bank will allow wealthy clients to gain exposure to a trio of crypto-linked funds.
UBS is now allowing Hong Kong clients to have exposure to 3 crypto-related ETFs.
Photo by Claudio Schwartz on Unsplash
Posted November 10, 2023 at 7:04 pm EST.
Swiss bank UBS is now allowing wealthy clients to get exposure to three crypto-linked exchange-traded funds (ETFs) on its platform in Hong Kong, according to a Bloomberg report on Friday.
The news comes as Hong Kong aims to establish itself as a digital asset hub, bringing a steady stream of new financial offerings to the region.
The three ETFs in question are the Samsung Bitcoin Futures Active, the CSOP Bitcoin Futures and the CSOP Ether Futures ETFs, The funds have a combined total of about $72 million in assets and are authorized by Hong Kong regulator Securities and Futures Commission (SFC).
The Hong Kong branch of HSBC started providing its clients access to the same three ETfs in June. In August, Hong Kong officially started offering licenses to crypto exchanges that wanted to offer retail trading services. HashKey Exchange and OSL Digital Securities won the first two licenses.
UBS isn’t the only Swiss bank making moves in Hong Kong. On Wednesday, the Hong Kong affiliate of SEBA Bank AG announced it had received an SFC license to deal in and distribute all securities, including virtual asset products.
