Crypto trading firm Wintermute will provide liquidity for the Hong Kong-listed spot bitcoin and ether ETFs, the company announced.
The London-based company said it wants to play a bigger part in the Asian market, hence the partnership.
Looking to strengthen its market share in the Asia region, Wintermute will be a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds, the company announced Wednesday.
The London-based firm is partnering with OSL Digital Securities and HashKey HK Exchange, both of which are sub-custodians of virtual asset trading platforms facilitating the operation of the ETFs, according to the statement.
“Crypto ETFs provide a means for investors at all levels to enter into the world of digital assets through a regulated and government-endorsed investment vehicle,” said Wintermute CEO Evgeny Gaevoy. “[They] play a key role in bringing the next wave of investors into the crypto space, both institutional and retail … Increasing access to digital assets will play a critical function in further accelerating growth, and Wintermute is excited to play a key role in that process.”
The partnership is part of a broader expansion to the Asian market, the company said. “Hong Kong has established itself as a leading advocate for crypto in the APAC region, and we are hopeful that other countries will follow their lead in the near future,” Gaevoy said.
The three Hong Kong-listed bitcoin ETFs, which went live on April 29, have so far seen a slow start compared to their counterparts in the U.S. As of the close on Monday they had accumulated just shy of 4,400 bitcoins or roughly $276 million in assets under management.
