SUPERNEWS

Crypto

Wintermute Boosts HK Bitcoin, Ether ETFs with Liquidity

Wintermute to boost Asia presence by providing liquidity for Hong Kong's new Bitcoin and Ether ETFs, enhancing investor access to digital assets.

By Max Weldon

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5/8, 04:52 EDT
Bitcoin / U.S. dollar
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Key Takeaway

  • Wintermute partners with OSL Digital Securities and HashKey HK Exchange to provide liquidity for Hong Kong's bitcoin and ether ETFs.
  • The move aims to facilitate seamless trading of these ETFs, enhancing access for both institutional and retail investors in the Asia region.
  • Despite a slow start, the three Hong Kong-listed bitcoin ETFs hold nearly 4,400 bitcoins, indicating growing interest in crypto investment vehicles.

Wintermute Expands in Asia

Wintermute, a London-based firm, has announced its role as a liquidity provider for the newly launched spot bitcoin and ether exchange-traded funds (ETFs) in Hong Kong. This move is part of the company's strategy to bolster its market presence in the Asia region. Wintermute's partnership with OSL Digital Securities and HashKey HK Exchange, both sub-custodians of virtual asset trading platforms, underscores the firm's commitment to facilitating the operation of these ETFs.

Crypto ETFs: A Gateway for Investors

Evgeny Gaevoy, CEO of Wintermute, emphasized the significance of crypto ETFs as a regulated and government-endorsed investment vehicle that opens the door for both institutional and retail investors to the digital assets space. Gaevoy highlighted the critical role of increasing access to digital assets in accelerating growth within the sector. "Crypto ETFs play a key role in bringing the next wave of investors into the crypto space," Gaevoy stated, expressing enthusiasm for Wintermute's involvement in this transformative phase.

Seamless Trading and Redemption

By partnering with OSL and HashKey, Wintermute will assist in the buying, selling, and delivery of the underlying assets of the ETFs, namely bitcoin (BTC) and ether (ETH). This collaboration aims to ensure a smooth creation and redemption process for the ETFs, facilitating easier access for investors looking to engage with digital assets through a regulated framework. The partnership marks a significant step in Wintermute's broader expansion efforts into the Asian market.

Hong Kong's Role in Crypto Advocacy

Highlighting Hong Kong's position as a frontrunner in crypto advocacy within the Asia-Pacific (APAC) region, Gaevoy expressed optimism about the future of digital asset regulation and adoption in Asia. "Hong Kong has established itself as a leading advocate for crypto in the APAC region," he noted, hopeful for other countries to follow suit. Despite the slow start of the three Hong Kong-listed bitcoin ETFs, which have accumulated about 4,400 bitcoins or roughly $276 million in assets under management since their launch on April 29, the initiative represents a significant milestone in the integration of digital assets into mainstream investment vehicles.

Management Quotes

  • Evgeny Gaevoy, CEO of Wintermute:

    "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... [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." "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."