HSBC, Hong Kong’s Largest Bank,  to offer Bitcoin &  Ethereum ETFs to customers.

HSBC has started allowing its customers to buy and sell Bitcoin ETFs listed on the Hong Kong exchange 

 HSBC is the largest banking institution in Hong Kong.

The crypto ETFs currently available on the Hong Kong exchange include the CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.

This move by HSBC makes it the first bank in Hong Kong to offer its customers the ability to purchase crypto-derivative products.

Hong Kong regulators have been pressuring banks to collaborate with local crypto firms 

The decision by HSBC to allow its customers to invest in crypto ETFs is expected to increase local users' exposure to cryptocurrencies in Hong Kong.

The Hong Kong Monetary Authority (HKMA) has advised banks to conduct due diligence on crypto companies without imposing excessive burdens.

While there is no ban on cryptocurrencies in Hong Kong, major banks have been hesitant to serve crypto clients due to concerns about potential legal consequences 

The decision by HSBC to offer crypto ETFs indicates a shifting landscape in the financial industry, where traditional banks are gradually embracing digital assets