HSBC opens up to cryptos – For several weeks, Bitcoin ETFs have been at the center of attention in the United States. In fact, alternately BlackRock, WisdomTree or Invesco have filed files for the creation of Bitcoin ETFs. In Hong Kong, ETFs have a head start and HSBC now offers them to its users.
HSBC opens access to crypto ETFs to clients in Hong Kong
HSBC is an international banking institution, which offers a wide range of services. Strong of 2.9 trillion dollars under managementit ranks 8th in the ranking of banks.
Today, June 26, our colleagues from Wu Blockchain relayed some major news: HSBC opens access to Bitcoin and Ethereum ETFs to its Hong Kong customers.
“HSBC, Hong Kong’s largest bank, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong Stock Exchange, and is also the first Hong Kong bank to allow this. »
Therefore, the bank’s clients will be able to invest in 3 different crypto ETFs:
- CSOP Bitcoin Futures ETF;
- CSOP Ethereum Futures ETF;
- Samsung Bitcoin Futures Active ETF.
In parallel, HSBC has launched a web portal called “Vitural Asset Investor Education Center”. There are many educational articles there. These must be read and approved by investors before they can invest in digital assets.
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Hong Kong: the next crypto hub?
For several years, the United States has been at the heart of innovations related to cryptocurrencies. However, for several weeks now the SEC has embarked on a crusade against major US-based crypto companies.
Alternately, Binance US And Coinbase were attacked by the SEC. The latter criticizes the platforms for the unregulated sale of securities.
Faced with regulatory pressure, many companies are considering leaving the United Statesfor the benefit of jurisdictions that have an established regulatory framework.
On June 10, a member of the Legislative Council of Hong Kong publicly proposed to Coinbase to come and settle in Hong Kong and take advantage of clear and established legislation.
A statement that made echo of the statements of the CEO of CoinbaseBrian Armstrong, who had said that he was ready to relocate Coinbase if the United States did not become more welcoming to crypto businesses.
The situation is so tense in the United States that some observers envision a paradigm shift where China would be at the heart of the next bull-run.
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