Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Digital bank Mox, a subsidiary of Standard Chartered, has started offering crypto exchange-traded funds to its customers.Robinhood Plans ‘Web 3’ Crypto Wallet for DeFi Traders, NFT BuyersThe bank also plans to offer direct crypto investments on its platform through a partnership with a licensed exchange, it told the South China Morning Post. So far, only two exchanges, HashKey and OSL, are licensed to offer crypto trading in Hong Kong.
“Adding Crypto ETFs to the Mox Invest platform empowers our customers to gain access to emerging asset classes with confidence, allowing them to explore new investment opportunities within the evolving crypto ecosystem in a regulated and trusted environment and through a safe and simple way via the Mox app,” CEO Barbaros Uygun said in a statement.
While the crypto ETFs are already available to investors on other trading platforms, Mox charges a lower fee of 0.12% of transaction volume with a minimum of HK$30 for Hong Kong-listed ETFs and 0.01% with a minimum of $5 for U.S.-listedU.S.-listed spot bitcoin and ether ETFs have gained traction since their introduction earlier this year, with the bitcoin ETFs taking in over $17 billion inflows since January.
All other eight funds have seen inflows, with BlackRock’s iShares Ethereum Trust slowly approaching the $1 billion mark. It is currently at $870 million. Their Hong Kong counterparts, however, have seen less demand. The three issuers, Bosera HashKey, ChinaAMC and Harvest Global, have not seen any inflows this month, according toin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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