Key Takeaways:
- Wintermute has become the liquidity provider for newly launched Bitcoin and Ether ETFs in Hong Kong, aiming to bolster its presence in the Asian market.
- The ETFs are managed with the assistance of sub-custodians OSL Digital Securities and HashKey HK Exchange, ensuring a smooth process for the creation and redemption of ETF shares.
- The CEO of Wintermute, Evgeny Gaevoy, emphasized the role of these crypto ETFs as regulated means for investors of all levels to engage with digital assets, highlighting the potential for other nations to follow Hong Kong’s pro-crypto stance.
Wintermute, a leading crypto trading firm, has announced its role as a liquidity provider for the recently launched spot Bitcoin and Ether ETFs in Hong Kong.
The London-based firm aims to increase its influence in the Asian market through this new partnership.
Wintermute announces liquidity support for Hong Kong spot bitcoin, ether ETFs https://t.co/vqp4Y7klXU
— The Block (@TheBlock__) May 8, 2024
The ETFs, which are listed in Hong Kong, will be supported by Wintermute in collaboration with OSL Digital Securities and HashKey HK Exchange.
These platforms act as sub-custodians and play a vital role in managing the operational aspects of the ETFs.
The collaboration is aimed at facilitating a smooth process for the creation and redemption of ETF shares by managing the buying, selling, and delivery of Bitcoin and Ether, the underlying assets of these funds.
Evgeny Gaevoy, CEO of Wintermute, expressed enthusiasm about the firm’s involvement in the ETFs, highlighting the importance of crypto ETFs as regulated investment vehicles that can attract a broad range of investors, from institutional to retail.
“Crypto ETFs provide a means for investors at all levels to enter into the world of digital assets through a regulated and government-endorsed investment vehicle,” Gaevoy stated.
The move is part of Wintermute’s broader strategy to expand its market share in Asia. Gaevoy remarked on Hong Kong’s role as a crypto advocate in the Asia Pacific region and expressed optimism that other nations might follow its lead.
🚨LATEST: SOME BIG NEWS ON THE HONG KONG ETF FRONT!
— Kyle Chassé (@kyle_chasse) May 8, 2024
Wintermute Has Announced…
Despite their recent launch on April 29, the three Hong Kong-listed Bitcoin ETFs have had a modest start, accumulating nearly 4,400 bitcoins, which translates to approximately $276 million in assets under management as of the latest closing.
This initiative by Wintermute underscores its commitment to facilitating robust market mechanisms in the growing Asian cryptocurrency landscape and its readiness to support the evolving investor base in digital assets.
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