NEW YORK, December 22, 2022 - In a groundbreaking development for the financial markets, Hong Kong Exchanges and Clearing Limited (HKEX) has today launched Asia’s first crypto asset ETFs. This significant milestone broadens the investment options for both local and international investors.

The newly listed ETFs are the CSOP Bitcoin Futures ETF (Stock code: 3066) and the CSOP Ether Futures ETF (Stock code: 3068). Managed by CSOP Asset Management Limited, these ETFs are tied to the standardized, cash-settled Bitcoin and Ether futures contracts traded on the Chicago Mercantile Exchange (CME).

Wilfred Yiu, HKEX’s Chief Operating Officer and Co-Head of Markets, expressed his enthusiasm, stating, “The two crypto asset ETFs listing today are an exciting addition to our increasingly large and diverse ETP ecosystem here in Hong Kong. They provide investors with exposure to the digital asset space for the first time in Asia and reflect both our ongoing commitment to, and the market’s appetite for, the digital economy. We look forward to welcoming more themed ETFs and more digital asset products to our markets in the months ahead.”

Rapid Growth in ETF Market

ETFs have been one of the fastest-growing segments in HKEX’s markets, and 2022 has seen a notable expansion in the variety of products available. Among the highlights are the listings of the first metaverse ETF, the first carbon futures ETF, the first blockchain ETF, and the inclusion of ETFs in Stock Connect.

Increasing Investor Interest

Investor interest in Exchange Traded Products (ETPs) has surged, as evidenced by the substantial rise in average daily turnover. For the first 11 months of 2022, the daily turnover of ETPs, including ETFs and Leveraged and Inverse Products (L&I Products), increased by 50 percent to $11.8 billion, compared to $7.8 billion for the same period last year. By November 2022, HKEX listed 168 ETPs, with a combined market capitalization of $373.5 billion.

This latest move by HKEX underscores its commitment to innovation and expanding its product offerings, positioning Hong Kong as a key player in the evolving global financial landscape. Investors and market watchers will be keenly observing the impact of these new crypto asset ETFs on the market in the coming months.