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Two Bitcoin ETFs raise USD73.6m ahead of debut in HK


The CSOP Bitcoin Futures ETF and the ProShares Bitcoin Strategy ETF have raised a combined USD73.6m ahead of their debut on the Hong Kong stock exchange, amid crypto instability. The larger of the two exchange traded funds, CSOP Bitcoin Futures ETF, pulled in USD53.9m, which topped ProShares Bitcoin Strategy ETF's USD20m seed capital. Yi Wang, head of quantitative investment at CSOP, said that their two crypto futures ETFs demonstrate that Hong Kong remains open-minded on the development of virtual assets. Hong Kong’s Securities and Futures Commission earlier said it would start a consultation to allow retail investors to trade cryptocurrencies and ETFs. The regulator had initially proposed restricting participation to professional investors.




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