PANews reported on May 8 that according to CoinDesk, in order to strengthen its market share in the Asian region, cryptocurrency trading company Wintermute announced on Wednesday that it will become the liquidity provider for the recently launched Hong Kong-listed Bitcoin and Ethereum spot ETFs.
The company has partnered with OSL Digital Securities and HashKey HK Exchange, both sub-custodians of the virtual asset trading platform that facilitates the ETF. The market maker will assist OSL and HashKey in completing the buying, selling and delivery of the ETF’s underlying assets, namely Bitcoin and Ethereum, to ensure that the ETF creation and redemption process is seamless. The company said the partnership is part of its broader expansion into the Asian market.
The three Hong Kong bitcoin ETFs that were listed on April 29 have been relatively slow to date compared with their U.S. counterparts. As of Monday’s close, they had accumulated just under 4,400 bitcoins, or about $276 million in assets under management.
