Hong Kong-based MicroBit Capital Management took two years to launch its bitcoin and ether exchange-traded funds (ETFs), with their debuts coming amid record-high prices for cryptocurrencies and global regulators’ increasing recognition of digital assets.
“Now I believe everybody considers bitcoin, or cryptocurrencies, as quite an important asset class; it’s no longer a scam,” said chief investment officer Kenny Khuong last month during MicroBit’s ETF listings on the Hong Kong stock exchange. “Cryptocurrency is entering a new phase suitable for mass adoption.”
Greater participation from institutional investors would help reduce cryptocurrency volatility, Khuong said. With increasing regulatory oversight globally, including…
