CSOP bitcoin futures ETF closes higher in Hong Kong debut

HONG KONG, Dec 16 (Reuters) – Hong Kong’s first bitcoin and ether futures alternate traded funds (ETFs) ended their first buying and selling day larger on Friday, reflecting buyers’ curiosity regardless of the broader crypto market meltdown.

The CSOP Bitcoin Futures ETF (3066.HK) closed up 0.5% at HK$7.81 per unit, whereas the CSOP Ether Futures ETF ended 0.4% larger at HK$7.805.

Each ETFs had opened flat in comparison with their estimated web asset values, each at HK$7.77 per unit. Among the many two, the bitcoin futures ETF attracted extra buying and selling quantity, as a complete of 937,200 models price HK$7.3 million modified arms.

“The 2 crypto asset ETFs present buyers with publicity to the digital asset area for the primary time in Asia and replicate each our ongoing dedication to, and the market’s urge for food for, the digital financial system,” stated Wilfred Yiu, chief working officer and co-head of markets at Hong Kong Exchanges & Clearing .

Previous to the their debut, the 2 funds raised a mixed $73.6 million from buyers.

($1 = 7.7777 Hong Kong {dollars})

Reporting by Georgina Lee; Modifying by Christian Schmollinger and Mark Potter

Our Requirements: The Thomson Reuters Belief Ideas.