- The cryptocurrency market maker announced a partnership with HashKey and OSL, two sub-custodians for spot Ethereum ETFs and bitcoin in Hong Kong.
- On April 30, six spot ETFs for ether and bitcoin made their debut on the Hong Kong Stock Exchange.
In an effort to strengthen its position in the Asian cryptocurrency markets, cryptocurrency market maker Wintermute said today that it will supply liquidity to OSL and HashKey for spot bitcoin and ether exchange-traded funds in Hong Kong.
In a statement released on Wednesday, Wintermute stated that it intended to collaborate closely on the purchase, sale, and delivery of the underlying bitcoin and ether for the spot ETFs with OSL and HashKey, both of which are sub-custodians for the crypto ETFs in Hong Kong.
According to Evgeny Gaevoy, CEO of Wintermute, without firms like Wintermute offering liquidity, ETFs would not be able to attract the next wave of institutional and individual investors to the cryptocurrency industry. In the APAC area, Hong Kong has emerged as a prominent voice in favor of cryptocurrencies, and we anticipate that other nations will soon follow suit.
On April 30, the six spot bitcoin and ether ETFs, which are overseen by Harvest Global, Bosera, and HashKey, as well as China Asset Management, made their formal debut in Hong Kong. On Monday, the three spot bitcoin ETFs saw their first cumulative daily withdrawals of bitcoin, and these withdrawals came only from China Asset Management’s ETF. SosoValue data indicates that 75.36 BTC left ChinaAMC’s spot bitcoin ETF during the day.
Compared to $9.74 million on its debut trading day, the three spot bitcoin ETFs had $8.6 million in trading activity on Monday. The trading volume for the three ether ETFs was $1.8 million on Monday, compared to $2.99 million on April 30.
According to SosoValue, as of Monday, the three spot bitcoin ETFs had roughly 4,150 bitcoins, bringing their total net assets to $266.8 million from $247.7 million on opening day.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
