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Friday, January 27, 2023

The CSOP Bitcoin Futures Has Raked In Quite A Considerable Amount Of Wealth

CSOP Asset Management, a manager of crypto futures exchange-traded funds, has managed to rake in close to $73.6 million in investments ahead of their listing on the HKSE (Hong Kong Stock Exchange) on the 16th of December.

In one of the main announcements, the issuer of ETFs went on to highlight that the Bitcoin Futures ETF had brought in $53.8 million, while the Ether Futures ETF had collected $19.7 million in initial investments. Both of the ETFs will now be managed to start investing in Bitcoin, and Ethereum futures which have been listed on the Chicago Mercantile Exchange in order to keep a track of the asset prices. 

CSOP Bitcoin Futures Has Managed To Bring In A Lot Of Money

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According to the executive at CME Group, Tim McCourt, the listing of the ETFs does show the increasing client demand for exposure to Ether and Bitcoin. McCourt went on to note that the introduction of the funds could possibly create a few opportunities for the retail, as well as institutional investors of the CSOP.

One of the executives at this Asset Management corp, Yi Wang, went on to state that trading the ETF did have a lot more safeguards when compared with multiple trading tokens in major unregulated platforms. The executive also mentioned the developments that were related to the two crypto futures ETFs highlighting that Hong Kong was still open-minded. 

On the 31st of October, the Hong Kong regulator of CSOP and other crypto spheres announced that it would be readily allowing other listings of ETFs that were connected to the Ether and the Bitcoin futures. In a circular, the SFC also discussed the guidelines for issuers of ETFs that also included a good track record and multiple years of experience in managing ETFs.

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