Wintermute to Offer Liquidity for Cryptocurrency ETFs Listed in Hong Kong

Wintermute Provides Liquidity for Hong Kong Crypto ETFs

Crypto market maker Wintermute is playing a crucial role in supporting the newly launched Hong Kong spot Bitcoin and Ethereum exchange-traded funds (ETFs). London-based Wintermute has announced that it is providing liquidity to two Hong Kong licensed digital asset platforms: OSL Digital Securities and HashKey HK Exchange.

Wintermute’s Partnership with OSL Digital Securities and HashKey

Wintermute has partnered with OSL Digital Securities and HashKey, who will act as sub-custodians and virtual asset trading platforms to facilitate the launch and operation of the Hong Kong-listed ETFs. This collaboration aims to enhance accessibility to digital assets for both institutional and retail investors.

Wintermute’s Role as a Liquidity Provider

As a liquidity provider for the ETFs, Wintermute will work closely with OSL Digital Securities and HashKey on activities such as buying, selling, and delivering underlying spot Bitcoin and Ethereum. The role of a liquidity provider is crucial in ensuring market liquidity and efficiency.

Hong Kong’s First Crypto Spot ETFs

In April, the Hong Kong Stock Exchange introduced new spot Bitcoin and Ethereum ETFs, marking the debut of the first spot virtual asset (VA) ETFs in Asia. These ETFs, listed by Harvest Global Investments, China Asset Management, and Bosera Asset Management, have already garnered significant interest.

During their inaugural week, Hong Kong’s spot Bitcoin ETFs attracted $230 million in assets under management (AUM), indicating strong demand for crypto investment products in the region.

Wintermute’s Outlook on Hong Kong’s Crypto Market

Wintermute’s CEO, Evgeny Gaevoy, expressed optimism about Hong Kong’s position as a crypto-friendly hub in the Asia-Pacific region. Gaevoy believes that Hong Kong’s proactive stance on crypto regulation sets a positive example for other countries to follow.