UBS Group plans to provide certain wealthy clients access to trade cryptocurrency futures-based ETFs in Hong Kong, Bloomberg reported. The move follows a similar offering from rival HSBC as banks expand crypto services.
UBS will reportedly allow qualified investors to trade three approved crypto futures ETFs on its Hong Kong platform – the Samsung Bitcoin Futures Active ETF, CSOP Bitcoin Futures ETF, and CSOP Ether Futures ETF.
The new futures ETF trading aligns with growing crypto adoption in Hong Kong’s financial sector. Regulators also hinted at potential approvals for spot crypto ETFs with retail investor access.
UBS joins HSBC, Hong Kong’s largest bank, in tapping burgeoning demand for crypto investment exposure. Global banks increasingly facilitate crypto adoption to meet customer needs and compete.
By allowing futures ETF trading, UBS provides clients with regulated crypto investment options as interest grows. Expanding services while mitigating risk is crucial amid volatile markets.
