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Home»ADOPTION NEWS»Hong Kong Cryptocurrency Futures ETF Experiences Top Performance Amid Bitcoin Rally
ADOPTION NEWS

Hong Kong Cryptocurrency Futures ETF Experiences Top Performance Amid Bitcoin Rally

By Crypto FlexsFebruary 17, 20243 Mins Read
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Hong Kong Cryptocurrency Futures ETF Experiences Top Performance Amid Bitcoin Rally
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Asia • February 16, 2024, 2:33 AM EST

Posted 1 minute ago In ~

Three Hong Kong-based cryptocurrency futures exchange-traded funds hit new highs as Bitcoin surpassed $52,000 on Thursday.

CSOP Bitcoin BTC

-1.36%
The futures ETF, Hong Kong’s first Bitcoin futures ETF, closed 3.56% higher at HK$20.92 ($2.67) on Thursday, its highest since its launch in December 2022. The Samsung Bitcoin Futures Active ETF rose 3.67% to close at HK$20.32 on Thursday, while the CSOP Ether Futures ETF rose 4.56% to close at HK$15.81, both hitting record highs. Hong Kong’s benchmark Hang Seng index closed 0.41% higher.

As Bitcoin prices rose, ETF movements emerged. Approximately $52,800 According to Thursday Block Pricing Page. Bitcoin was trading at about $52,100 at 2:15 PM Hong Kong time on Friday.

Meanwhile, in Hong Kong, some blockchain and cryptocurrency stocks rose on Thursday. Sinohope Technology Holdings Ltd., formerly Huobi Technology or New Huo Technology, saw its stock price surge 26% on Thursday. Shares of cryptocurrency trading platform OSL closed 12.6% higher on Thursday.

Spot Cryptocurrency ETF Rush

Several Hong Kong companies have announced plans to file applications for a spot cryptocurrency ETF this year after local regulators announced. ready to accept Such an application.

The financial services company earlier this month Venture Smart Financial Holdings They announced that they are aiming to launch a spot Bitcoin ETF in the first quarter and a spot Ether ETF in the second quarter. Hong Kong branch of Harvest Fund, a major Chinese asset management company Known to have been submitted January Spot Bitcoin ​​ETF Application.

Last month, HashKey Exchange CEO Livio Weng said: About 10 fund companiesThe city has begun investigating potential spot cryptocurrency ETF launches, including those backed by Chinese capital.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

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