City Hong Kong Financial News

Three Asian-based ventures have joined forces to launch Hong Kong’s first-ever ETF liquidity fund. The fund is valued at HK$1b (about $128m), according to a statement published Wednesday.

The Hong Kong Monetary Authority (HKMA) on Tuesday formed a working committee in order to set industry standards for wholesale CBDC interoperability. The group also aims to facilitate tokenized asset transactions and interbank settlement using wCBDC.

Crypto market maker Wintermute is providing liquidity and supporting the newly launched Hong Kong spot Bitcoin and Ethereum exchange-traded funds (ETFs).

Eight months ago, life was good for Kavish Kataria, the 33-year-old former SocGen vice president at the centre of the French bank's latest trading brouhaha. Based in Hong Kong on the delta one desk, Kataria says he made $50m in profits in 2023 through to September. He was expecting a $1m bonus and was scheduled to move to Singapore with the bank.

Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have secured $230 million in assets under management (AUM) in their inaugural week.

The CEO of CF Benchmarks, a subsidiary of cryptocurrency exchange Kraken, predicts that crypto exchange-traded funds (ETFs) in Hong Kong will overcome their lackluster start and accumulate over $1  billion in assets under management (AUM) by the end of 2024.

Dabur India on Thursday said that all its spices comply with the regulations set up by FSSAI for Indian markets. «All our spices comply with the regulations set up FSSAI for Indian markets and by the Spice Board of India for the overseas markets,» said Mohit Malhotra, CEO of Dabur India. All export consignments are tested by the Spice Board and shipped only once they comply with their regulations and specifications, he said.

Plans have been announced for a strategic partnership that will enhance the U.S. private wealth distribution channel of real assets investment firm The Townsend Group which advises clients with $218 billion in assets.

Alun Cairns, a Conservative UK Member of Parliament, called on the Financial Conduct Authority (FCA) to reconsider its ban on crypto exchange-traded products (ETPs) for retail investors. In a Politics.co.uk op-ed published Thursday, he raised concerns that the country is falling behind.

Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June.

Bitcoin, the largest cryptocurrency by market value, fell 1.75% to $61,222, while the second-largest digital token, Ethereum, slipped 5.2% to $2,998.

GTRI) Wednesday said that nearly $700 million worth of India’s spice exports to critical markets are at stake due to cascading regulatory actions in many countries, as concerns are being raised about the quality of Indian spices. It cautioned that if the EU follows suit with a rejection across the bloc, it could impact an additional $2.5 billion of India’s spice exports. The US, Hong Kong, Singapore, Australia, and Malé have raised questions on the quality of spices supplied by leading Indian firms MDH and Everest. India exported spices worth $692.5 million to these countries in FY24. “This issue demands urgent attention and action to uphold the storied reputation of India’s fabled spice garden,” it said, adding that so far the response from Indian authorities has been tepid and formulaic.

Mint. The firm has at least $1.5 billion invested in India across three strategies: primary funds, secondary transactions, and direct co-investments. “We expect a material increase in investments in India.

The Bitcoin and Ethereum exchange-traded funds (ETFs) newly issued by China Asset Management Co. provide new investment channels for Chinese currency holders.

On a bearish day in the crypto market that was marred by a weak debut to spot Bitcoin and Ether ETFs in Hong Kong and data that reinforced expectations that the Fed will wait longer before cutting interest rates, traders looking for quick gains are flocking to on-chain shitcoin markets as they hunt for top crypto gainers today.

As Bitcoin (BTC) probes for a break below $60,000 and Ether (ETH) pushes under $3,000, crypto investors are turning to the altcoin market as they hunt for the best crypto to buy today.

Hong Kong’s entry into the spot Bitcoin and Ether exchange-traded funds (ETFs) market saw six newly introduced ETFs record a trading volume of HK$87.5 million ($11.2 million) on their first day of trading. 

The Bitcoin (BTC) price has tumbled more than 5% on Tuesday to below $60,000 following a disappointing first day of spot Bitcoin ETF trade in Hong Kong, and following fresh US economic data that points to sticky inflation and strengthens the argument that the Fed should wait before cutting interest rates.

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub. The debut comes three months after the United States gave the greenlight to ETFs pegged to bitcoin's spot price, making it easier for mainstream investors to add the unit to their portfolio.

Issuers  are expecting  approximately $300 million in combined first-day inflows for the six new Hong Kong spot-crypto ETFs, with a preference for  Bitcoin  funds.

The Hong Kong Stock Exchange today announced the launch of new spot Bitcoin and Ethereum exchange-traded funds (ETFs).