Cryptocurrency market maker Wintermute announced today that it will provide liquidity to OSL and HashKey for spot Bitcoin and Ether exchange-traded funds in Hong Kong to “strengthen Wintermute’s presence in the Asian cryptocurrency market.”
Wintermute said in a statement Wednesday that it plans to work closely with Hong Kong-based spot cryptocurrency ETF sub-custodians OSL and HashKey on the purchase, sale and delivery of the underlying Bitcoin and Ethereum for the spot ETF.
“ETFs play a key role in attracting the next generation of investors from both institutional and retail sectors to the cryptocurrency space, and this would not have been possible without companies like Wintermute providing liquidity,” Evgeny Gaevoy, CEO of Wintermute, said in a statement. .” “Hong Kong has established itself as a leading proponent of cryptocurrency in the APAC region, and we hope other countries will follow suit in the near future.”
Six Spot Bitcoin and Ether ETFs Managed by China Asset Management, Harvest Global, Bosera and HashKey – officially debuted April 30 in Hong Kong. Three spot Bitcoin ETFs recorded their first daily cumulative Bitcoin outflows on Monday. This only happened in China Asset Management’s ETF. According to the ChinaAMC Spot Bitcoin ETF, 75.36 BTC left the product on this day. data In small value.
Trading volume for the three spot Bitcoin ETFs reached $8.6 million on Monday, compared to $9.74 million on the first trading day. The three Ether ETFs recorded trading volume of $1.8 million on Monday, down from $2.99 million on April 30.
Three spot Bitcoin ETFs held about 4,150 bitcoins as of Monday, with total net assets reaching $266.8 million, up from $247.7 million on the first day, according to SosoValue.
Disclaimer: Evgeny Gaevoy, founder and CEO of Wintermute, previously served on The Block’s Board of Directors from April 2023 to early November 2023 and remains a minority shareholder.
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