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Swiss multinational investment bank UBS Group is set to enable select high-net-worth clients in Hong Kong to trade crypto-linked exchange-traded funds (ETFs). The move is aimed at keeping pace with its competitor, HSBC, which has already incorporated three crypto-related futures ETFs on its investment platform in the city. The authorized ETFs, including Samsung Bitcoin Futures Active, CSOP Bitcoin Futures, and CSOP Ether Futures, have received the green light from Hong Kong’s Securities and Futures Commission. UBS following in HSBC’s footsteps The largest bank in Hong Kong, HSBC, has long been a participant in the crypto market. It recently announced that it would start offering Bitcoin and Ethereum ETFs in Hong Kong. The strategic move by UBS underscores the growing importance of crypto currencies in the financial sector and reflects the increasing demand from high-net-worth individuals for exposure to digital assets. Crypto regulation framework i...

The Hong Kong Monetary Authority urges prominent banks to engage with crypto exchanges to stimulate the digital assets industry. The Hong Kong Monetary Authority (HKMA) is urging key banks, including HSBC and Standard Chartered, to onboard cryptocurrency exchanges as clients to establish the city as a global cryptocurrency industry hub. This comes despite recent regulatory crackdowns on the industry by US authorities. Financial Times reports that in a meeting last month, the HKMA questioned the UK-based banks and Bank of China regarding their hesitation to accept crypto exchanges as clients. The regulators encouraged banks not to impose an “undue burden” on potential customers, especially those setting up offices in Hong Kong, as revealed in a letter dated April 27. You might also like: Hong Kong politician extends invitation to Coinbase to operate in the SAR While there is no explicit ban on crypto currency clients , traditional banks are hesitant to engage wi...