Wintermute enters Hong Kong! Announcing the provision of liquidity to local Bitcoin and Ethereum spot ETFs

The Hong Kong Securities Regulatory Commission approved 6 Bitcoin and Ethereum spot ETFs (Boshi International, China Asset Management, Harvest International) and were officially listed on the Hong Kong Stock Exchange at the end of last month (30) , but the market performance after listing was not ideal.

However, it is reported that Wintermute, a well-known market maker, announced today that it will provide liquidity for Hong Kong Bitcoin and Ethereum spot ETFs to promote Wintermute’s influence in the Asian cryptocurrency market.

Providing liquidity to OLS and HashKey

The statement noted that Wintermute is working with OSL Digital Securities and HashKey HK Exchange to help the two companies purchase, sell and deliver the underlying assets of the ETF. In addition, both companies are custodians of Bitcoin and Ethereum spot ETFs.

Regarding the provision of liquidity support for the Hong Kong cryptocurrency ETF, Wintermute CEO Evgemy Gaevoy said: Hong Kong has become a major advocate of cryptocurrency in the Asia-Pacific region, and we hope that other countries will follow their lead in the near future. way of doing.

The popularity of Hong Kong Bitcoin and Ethereum spot ETFs has declined

On the other hand, after the Bitcoin and Ethereum spot ETFs were listed on the Hong Kong Stock Exchange, they immediately encountered a sharp decline in the cryptocurrency market. Bitcoin once fell to $56,552 on the afternoon of the 1st, and the current price has rebounded to around $62,000.

The recent sharp fluctuations in the cryptocurrency market have also caused investors who are willing to purchase spot ETFs to maintain a wait-and-see attitude, causing the subscription volume of spot ETFs to decline day by day. According to SoSoValue data, in addition to the large inflows on the day of listing of the Hong Kong Bitcoin and Ethereum spot ETFs, the inflows continued to be sluggish in the following days, and there were even outflows, showing that the market is interested in purchasing the Hong Kong Bitcoin and Ethereum spot ETFs. Enthusiasm gradually waned.

However, as the market maker Wintermute announced that it will provide liquidity for Hong Kong Bitcoin and Ethereum spot ETFs, the market is expected to be active accordingly.

Bitcoin, Ethereum Spot Bitcoin Fund Flow Chart

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