Tiger Brokers, a Nasdaq-listed company, has introduced support for cryptocurrency trading on its Tiger Trade mobile and desktop applications in Hong Kong. Professional investors now have access to 18 cryptocurrencies, including Bitcoin and Ethereum, along with stocks, options, futures, U.S. Treasuries, and other global assets. The company has partnered with HashKey Exchange to facilitate cryptocurrency trading for professional investors.
Initially, this service is available to professional investors in Hong Kong, including residents with portfolio values exceeding HK$8 million and corporate entities with assets exceeding HK$40 million. Tiger Brokers aims to expand its cryptocurrency trading services to retail investors pending regulatory approval. Additionally, the company is considering adding cryptocurrency spot withdrawal and deposit services to its platform to further enhance accessibility.
Investors seeking exposure to cryptocurrencies can also utilize Bitcoin spot exchange-traded funds (ETFs) through Tiger Trade. The platform offers access to US-listed Bitcoin ETFs and recently launched Hong Kong spot Bitcoin and Ethereum ETFs. These ETFs have garnered significant attention, with Hong Kong's spot Bitcoin and Ethereum ETFs attracting over $200 million in total assets on their debut.
On April 30, the Bosera HashKey Spot Bitcoin and Ethereum ETF, which hit the Hong Kong market, accumulated 964 Bitcoins and reached total assets under management of US$71.94 million. Similarly, the spot Bitcoin and Ethereum ETFs created by China Asset Management reached a total asset value of $123.61 million. There are rumors suggesting that mainland China may launch Hong Kong-based Bitcoin and Ethereum ETFs, potentially leveraging the Shenzhen-Hong Kong Stock Connect infrastructure for cross-border investment.
Richard Byworth, managing partner at SyzCapital and BTC investor, indicated that these Hong Kong-based crypto ETFs could be linked to the Shenzhen-Hong Kong Stock Connect, a cross-border investment mechanism connecting the Shenzhen and Hong Kong stock exchanges. This infrastructure enables investors, brokers, and clearing houses to trade stocks on both markets seamlessly.
