It has successfully continued to capitalize on the ETF craze in the US, with Bitcoin and Ether ETFs trading for futures in Hong Kong. Interest in the CSOP ETF in the country, which is economically independent but administratively under Chinese control, has increased significantly recently.
According to the statement from the CSOP company, the demand for the Bitcoin futures fund increased significantly, especially in February. The asset value managed by the firm's ETF has increased 5-fold since October and reached over $100 million yesterday.
Alessandro Zhu, the company's chief revenue officer, stated that both the approval of US ETFs and the limited supply of Bitcoin increased demand all over the world. Zhu said: "Bitcoin also surpassed the stocks in Hong Kong. Investors who saw this got involved in this area. Although cryptocurrency investments are prohibited in China, financial institutions outside the country can invest in Bitcoin ETFs through Hong Kong."
It is certain that the Hong Kong Securities and Exchange Commission will also approve Bitcoin spot ETFs this year.
