New Bitcoin and Ether Futures ETFs Launching in Hong Kong

Asset manager CSOP is launching new bitcoin and ether futures exchange-traded funds (ETFs) that will be officially listed on the Hong Kong Stock Exchange on Dec. 16, according to a press release. They will be the first listed bitcoin and ether futures ETFs available in Asia, according to CSOP.

The launch is notable since the Chinese government officially banned crypto trading and mining in September 2021. The two new funds will be actively managed to invest in Chicago Mercantile Exchange (CME Group)-listed bitcoin and ether futures to track their respective prices.

“The approval of two new ETFs based on CME Bitcoin and Ether futures marks an important milestone for the digital asset ecosystem in Asia,” said Tim McCourt, CME Group’s Global Head of Equity and FX Products, in a statement.

CSOP had previously launched Hong Kong’s first Metaverse ETF, which was listed on the HK Stock Exchange in February.

The first bitcoin futures exchange-traded funds in the U.S. were approved last year, and while a number of spot bitcoin funds have been submitted for approval to the SEC, none have been approved thus far.