UBS Offers Crypto ETFs to Wealthy Clients in Hong Kong

UBS offers wealthy clients crypto ETFs in Hong Kong, following approval by the local regulator.

These ETFs, including Samsung Bitcoin Futures and CSOP Ether Futures, manage around $72 million in assets.

This announcement comes just after HSBC revealed plans for a digital asset custody service, proving a growing interest in crypto from big banks.

Its no news that Hong Kong is opening up to crypto, recently allowing the public to invest in spot crypto ETFs and pushing to be a global crypto hub.

While UBS and the regulatory body haven't made any statement on this yet, UBS is also collaborating with the Swiss National Bank on a digital currency project.

UBS's involvement in crypto increased after it helped rescue Credit Suisse, coinciding with a significant rise in Bitcoin's price.