Hong Kong Bitcoin, Ether Crypto ETFs Raise $79 Million in Shadow of FTX Crisis

The corporate flag for Hong Kong Exchanges & Clearing, right, and the Chinese flag, left, fly outside the Exchange Square complex in Hong Kong, China, on Sept. 16, 2019. Photo: Bloomberg

(Bloomberg) — A pair of Hong Kong exchange-traded funds investing in Bitcoin and Ether futures raised $79 million as the city pushes ahead with a plan to become a crypto hub even as the sector globally reels from the FTX collapse.

The CSOP Bitcoin Futures and CSOP Ether Futures ETFs, due to be listed later Friday, achieved $59 million and $20 million of initial investment respectively, according to a statement from issuer CSOP Asset Management Ltd.