UBS to Allow Wealthy Clients Trade Crypto Futures ETFs in Hong Kong

UBS Group is starting to allow certain clients to trade crypto-linked exchange-traded funds (ETFs) in Hong Kong, in a move to match its rival HSBC in tapping the nascent market in the city.

Bloomberg reported today, citing a source familiar with the matter, that UBS's wealthy clients will be given access to three crypto-related futures ETFs on its platform. The three available ETFs — Samsung Bitcoin Futures Active, CSOP Bitcoin Futures and CSOP Ether Futures ETFs — are authorized by Hong Kong's Securities and Futures Commission.

HSBC, the largest bank in Hong Kong, has long included the three ETFs on its investment platform.

Meanwhile, Hong Kong is considering allowing retail access to spot ETFs directly investing in cryptocurrency. 

(Source: The Block)