Hong Kong's HSBC Allows Customers to Trade Bitcoin, Ether ETFs but That's Not Really News

A string of cryptocurrency news outlets reported that HSBC Hong Kong is giving its customers access to bitcoin (BTC) and ether (ETH) exchange-traded funds on Monday.

The news was and reproduced by a number of different sites, including .

However, this appears to be something of an overreaction. HSBC's customers in Hong Kong have in fact been able to trade such crypto investment products since (HKEX) in December, as the bank allows trading of all publicly-listed ETFs.

Crypto ETFs debuted on the HKEX with the listing of the CSOP Bitcoin Futures ETF (3066) and CSOP Ether Futures ETF (3068). These were (3135) in January.

Today's development would appear to be that HSBC customers can now also access these ETFs from the bank's investment platform.

The overreaction to this modest development demonstrates the excitement in the crypto community for any and all adoption of cryptocurrency investments by mainstream institutions such as HSBC in major financial centers like Hong Kong.

Indeed, Hong Kong has been emerging as a potential global crypto hub in recent months with its Securities and Futures Commission (SFC) and (COIN) to come and register in the region.

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Edited by Nelson Wang.