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Hong Kong’s First Crypto Futures EFTs Raise $73.6M Ahead of Launch

CSOP Asset Management, an investment advisor based in Hong Kong, will launch Bitcoin and Ether futures exchange-traded funds (ETS) on the Hong Kong Stock Exchange on Friday. However, ahead of their debut, the ETFs have raised a combined $73.6 million, with the Bitcoin futures ETF alone accounting for $53.9 million, Reuters reports.

In October last year, the United States’ first Bitcoin-linked futures EFT launched with a seed capital of $20 million after approval by the United States Securities and Exchange Commission.

The new ETFs, which are expected to be launched at HK$780 per unit, will invest in Bitcoin and Ether futures listed on the Chicago Mercantile Exchange in the United States. Bitcoin and Ether are currently the only digital assets approved by Hong Kong’s Securities and Futures Commission (SFC).

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