BlackRock, the world’s largest asset management company, has joined forces with newly launched crypto ETFs in Hong Kong. Despite the low trading volumes, CF Benchmarks CEO, Sui Chung, remains hopeful for the Bitcoin and Ethereum ETFs in Hong Kong. He predicts that the assets under management (AUM) of crypto ETFs in Hong Kong will reach $1 billion by the end of 2024. Chung also identified South Korea and Israel as potential markets for listing and trading crypto ETFs, with a focus on South Korea due to its preference for ETFs as long-term savings options.
CF Benchmarks, based in London, is known for providing reference data for Bitcoin investment products, including BlackRock’s IBIT. It currently has an AUM of approximately $24 billion, making up about half of the crypto benchmark market. The company was acquired by cryptocurrency exchange Kraken in 2019 and has since expanded its presence in the crypto benchmark market through various collaborations.
It is important to note that the information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
