Amid crypto turmoil, Hong Kong debuts first crypto futures ETFs

Two exchange traded funds (ETF) that track U.S.-listed cryptocurrency futures have raised a combined $73.6 million ahead of their debut on the Hong Kong stock exchange on Friday in defiance of the sector’s meltdown.

The ETFs, managed by CSOP Asset Management, invest in bitcoin and ether futures listed on the CME exchange in the United States, the only cryptocurrency assets currently permitted by Hong Kong’s Securities and Futures Commission (SFC).