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 Hong Kong Launches Bitcoin And Ether Futures ETFs

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Hong Kong's New Bitcoin Futures and Ether Futures ETFs Raised $79 Million in Trading Debut.

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Fund managers launched new bitcoin- and ether futures exchange-traded funds (ETF), which began trading on the Hong Kong Stock Exchange on Dec. 16.

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According to CSOP, they will be the first ETFs that list bitcoin and ether futures in Asia.

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This launch is noteworthy because the Chinese government banned crypto trading and mining in September 2021. However, Hong Kong still maintains an independent financial and legal system.

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These funds will be managed actively to invest in Chicago Mercantile Exchange's (CME Group) bitcoin and ether futures to track their respective prices.

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Tim McCourt stated that approving two new ETFs, based on CME Bitcoin futures and Ether futures, is a significant milestone in Asia's digital asset ecosystem.

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CSOP launched Hong Kong's first Metaverse ETF in February. It was then listed on the HK Stock Exchange.

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Last year, the first bitcoin futures exchange-traded funds were approved in the United States.

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