Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs
Powered by @unfoldedCrypto trading firm Wintermute has announced that it will provide liquidity for the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds (ETFs). Wintermute is partnering with OSL Digital Securities and HashKey HK Exchange, which are sub-custodians of virtual asset trading platforms facilitating the operation of the ETFs. The company aims to strengthen its market share in the Asian region through this partnership.
Wintermute will help with the buying, selling, and delivery of the underlying assets of the ETFs, bitcoin and ether, to ensure a seamless creation and redemption process.
The partnership is part of Wintermute's broader expansion into the Asian market, with the company hoping that other countries will follow Hong Kong's lead in embracing cryptocurrencies.
The Hong Kong-listed bitcoin ETFs, launched on April 29, have had a slow start compared to their counterparts in the US, accumulating just under 4,400 bitcoins or roughly $276 million in assets under management as of the close on Monday.