As a crypto investor with experience in the dynamic Asian market, I’m thrilled about Tiger Brokers’ announcement of cryptocurrency trading support on its platform. This expansion is a testament to the growing acceptance and demand for digital assets among professional investors.
Hong Kong remains open to fresh opportunities for cryptocurrency investing as Tiger Brokers, a publicly-traded company listed on Nasdaq, introduces cryptocurrency trading on its user-friendly Tiger Trade app, accessible via both mobile and desktop devices.
Based on a communication made public to CryptoMoon, investors with a professional designation have the ability to invest in an expansive range of assets. This includes 18 different cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), along with stocks, options, futures, U.S. Treasury bonds, and various other global financial instruments.
As a crypto investor, I’m excited to share that since 2019, Tiger Brokers, a Nasdaq-listed company, has teamed up with HashKey Exchange. This collaboration grants me and other professional investors seamless access to the dynamic world of cryptocurrency trading.
As a seasoned crypto investor based in Hong Kong, I’d express it this way: “Initially, the new facility is exclusively open to me and other professional investors residing in Hong Kong. We must all possess investment portfolios worth over 8 million Hong Kong dollars ($1 million), or be corporate entities managing assets above 40 million Hong Kong dollars ($5 million).”
As a researcher studying Tiger Broker’s latest developments, I can share that the company intends to broaden its cryptocurrency trading offerings to include individual retail investors, subject to regulatory consent. Additionally, they are contemplating the inclusion of cryptocurrency spot deposits and withdrawals in their services.
Don’t forget Bitcoin ETFs
Individuals seeking to invest in cryptocurrencies directly or indirectly have the option to explore Bitcoin spot ETFs on various platforms.
I can confirm that Tiger Brokers now enables investors to trade US-listed Bitcoin Exchange-Traded Funds (ETFs) and newly introduced Hong Kong spot Bitcoin and Ether ETFs on their platform, Tiger Trade.
Another option allows investors to reach these ETFs, which have experienced differing levels of achievement since their debuts in the United States and Hong Kong markets.
ETFs made their debut in Hong Kong markets on April 30th, yet the modest trading volume of $12 million failed to measure up to the impressive $4.6 billion trading volume that U.S. Bitcoin ETFs had reached by January 2024.
Mainland China awaits?
Despite this, the Bosera HashKey Bitcoin and Ether ETFs based in Hong Kong garnered over $200 million in assets during their launch. Based on information from Arkham Intelligence, these ETFs currently hold approximately 964 Bitcoins, which equate to around $71.94 million in managed assets.
During the month of April, specifically on the 30th, Eric Balchunas, a senior ETF analyst at Bloomberg, disclosed that ChinaAMC’s Bitcoin and Ethereum spot ETFs had accumulated approximately $123.61 million in assets.
Industry insiders in Asia hint at the possibility of reaching Hong Kong’s Bitcoin and Ether ETFs in mainland China, according to reports.
Previously, according to CryptoMoon’s coverage, Richard Byworth, managing partner at SyzCapital and a Bitcoin investor, proposed an intriguing idea. He suggested that crypto ETFs based in Hong Kong could potentially be connected to the Shenzhen-Hong Kong Stock Connect. This link would facilitate seamless trading between these two financial hubs.
As a market analyst, I’d describe it this way: I analyze the seamless connection between the Shenzhen and Hong Kong stock exchanges, which grants me, as an investor or intermediary, the ability to buy and sell shares across these two dynamic markets with ease.
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2024-05-06 15:45