BlackRock, the world’s largest asset management company, has teamed up with newly launched crypto ETFs in Hong Kong, despite their low trading volumes. CF Benchmarks, a unit of cryptocurrency exchange Kraken, is collaborating with the spot Bitcoin and Ethereum ETFs. Sui Chung, CEO of CF Benchmarks, predicts that the AUM of crypto ETFs in Hong Kong will reach $1 billion by the end of 2024. Chung also believes that South Korea and Israel are potential markets for listing and trading crypto ETFs, with South Korea being a market where “ETFs are preferred for long-term savings.” CF Benchmarks, based in London, is known for providing reference data for Bitcoin investment products, including BlackRock’s IBIT. The company’s AUM in the crypto benchmark market is around $24 billion, making up about half of the market. CF Benchmarks was acquired by Kraken in 2019 and has since grown through various collaborations. It is important to note that this article does not provide investment advice and investors should conduct their own research due to the high volatility and risk associated with cryptocurrencies.
