Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs

Looking
to
strengthen
its
market
share
in
the
Asia
region,
Wintermute
will
be
a
liquidity
provider
to
the
recently
launched
Hong
Kong-listed
spot
bitcoin
and
ether
exchange-traded
funds,
the
company
announced
Wednesday.

The
London-based
firm
is
partnering
with
OSL
Digital
Securities
and
HashKey
HK
Exchange,
both
of
which
are
sub-custodians
of
virtual
asset
trading
platforms
facilitating
the
operation
of
the
ETFs,
according
to
the
statement.

“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,”
said
Wintermute
CEO
Evgeny
Gaevoy.
“[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.”

The
market
maker
will
help
both
OSL
and
HashKey
with
the
buying,
selling
and
delivery
of
the
underlying
assets
of
the
ETFs,
in
this
case
bitcoin

(BTC)
and
ether

(ETH),
to
allow
for
a
seamless
creation
and
redemption
process.

The
partnership
is
part
of
a
broader
expansion
to
the
Asian
market,
the
company
said.
“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,”
Gaevoy
said.

The
three
Hong
Kong-listed
bitcoin
ETFs,
which

went
live
on
April
29,
have
so
far
seen
a

slow
start
compared
to
their
counterparts
in
the
U.S.
As
of
the
close
on
Monday
they
had
accumulated
just
shy
of
4,400
bitcoins
or
roughly
$276
million
in
assets
under
management.