Hong Kong’s largest bank, HSBC, will start trading Bitcoin and Ethereum ETFs today.

In line with these developments, HSBC has also launched the Virtual Asset Investor Education Centre.

Hong Kong’s largest bank, HSBC, will start trading Bitcoin and Ethereum ETFs today.


HSBC, the largest bank in Hong Kong, has taken a significant step towards expanding the adoption of cryptocurrencies by allowing its customers to trade Bitcoin and Ethereum exchange-traded funds (ETFs) listed on the Hong Kong exchange. This move marks a significant milestone in Hong Kong’s journey towards mass adoption of digital currencies, as HSBC becomes the first bank in the region to facilitate such transactions. The decision comes in response to mounting pressure from regulators, who have been advocating for more crypto-friendly policies.

The cryptocurrency ETFs listed in Hong Kong currently include CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF. HSBC, holding key roles as issuers of Hong Kong’s currency and chair posts at the Hong Kong Association of Banks lobby group, is taking the lead in promoting the use of cryptocurrencies within the region.

In line with these developments, HSBC has also launched the Virtual Asset Investor Education Centre, wherein investors are required to review and acknowledge the educational materials and risk disclosures before engaging in any virtual asset-related products through HSBC’s HK Easy Invest app, HSB CHK Mobile Banking app, or online banking platforms. This educational initiative aims to inform and guide investors about the nature and risks associated with virtual assets.

Hong Kong’s Regulatory Authorities Exerting Pressure on Financial Institutions

As reported earlier this month, Hong Kong regulators have pressured banks to collaborate with local crypto firms. The Hong Kong Monetary Authority (HKMA) has even questioned banks like HSBC and Standard Chartered for hesitancy in serving crypto clients. However, these efforts have now borne fruit, as major banks, including HSBC, have begun accommodating their crypto customers.

The HKMA has advised banks to conduct due diligence on crypto companies without imposing excessive burdens, especially for those seeking to establish a presence in the region to explore opportunities. While cryptocurrencies are not banned in Hong Kong, major banks have remained cautious about serving crypto clients due to concerns over potential legal consequences if these clients engage in money laundering or other illicit activities through crypto platforms.

Hong Kong banks face the delicate task of striking a balance between supporting cryptocurrencies and exchanges, encouraged by local regulators, while also considering the international landscape, particularly the situation in the United States. Nonetheless, with HSBC leading the way, Hong Kong’s financial sector is taking a significant stride towards embracing cryptocurrencies and driving their wider adoption.

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