UBS joined
Three crypto ETFs authorized by the Securities and Futures Commission will be accessible to wealthy clients on UBS's Hong Kong platform from Friday, a person familiar with the matter said, asking not to be identified discussing private information.
The Swiss bank included the Samsung Bitcoin Futures Active, CSOP Bitcoin Futures and CSOP Ether Futures ETFs, the person said, adding clients can also access educational materials to understand risks. UBS declined to comment.
Hong Kong on June 1 rolled out a digital-asset regulatory regime designed to both protect investors and spur the development of a hub. Under the rules, the SFC permits retail investors to trade major tokens on licensed exchanges. The agency currently allows futures-based ETFs and is
The city's crypto pivot is supposed to help restore its image as a cutting-edge financial center but the push suffered a setback from the recent
The crypto sector is slowly recovering from a $1.5 trillion market rout in 2022 and high-profile collapses like the bankruptcy of Sam Bankman-Fried's FTX platform. Speculation that the US may allow the country's first spot Bitcoin ETFs has contributed to a doubling in the price of the largest token this year.
Financial institutions globally remain cautious about compliance risks but there are some signs of growing engagement with the crypto economy.
DBS Group has said it
The CSOP Bitcoin Futures and CSOP Ether Futures funds were