UBS Group has begun allowing select clients to trade crypto-linked exchange-traded funds (ETFs) in Hong Kong, a move to compete with its rival HSBC and tap into the emerging market in the city.
According to a source familiar with the situation, UBS’s high net worth clients will have access to three crypto-related futures ETFs on their platform.
These ETFs – Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures – are authorized by the Securities and Futures Commission of Hong Kong.
HSBC, the largest bank in Hong Kong, has already been offering these three ETFs on its investment platform for some time.
Additionally, the Hong Kong Securities and Futures Commission is considering allowing retail access to ETFs that directly invest in cryptocurrency.
Julia Leung, CEO of the SFC, stated in a recent Bloomberg interview that the regulator is discussing proposals for innovative technology that improves efficiency and the customer experience.
