Wintermute, a prominent market maker in the crypto trading sphere, has announced its collaboration with OSL Digital Securities and HashKey HK Exchange to offer liquidity for the newly launched Hong Kong-listed spot bitcoin and ether exchange-traded funds (ETFs). This move underscores Wintermute’s commitment to expanding its market presence in the Asia region.
Wintermute, headquartered in London, aims to support OSL Digital Securities and HashKey HK Exchange, both of which serve as sub-custodians of virtual asset trading platforms facilitating the operation of the ETFs. By partnering with these entities, Wintermute seeks to facilitate the buying, selling, and delivery of the underlying assets of the ETFs, namely bitcoin (BTC) and ether (ETH), to ensure a seamless creation and redemption process.
CEO of Wintermute, Evgeny Gaevoy, emphasized the significance of crypto ETFs in democratizing access to digital assets. He stated, “Crypto ETFs provide a means for investors at all levels to enter into the world of digital assets through a regulated and government-endorsed investment vehicle.” Gaevoy further highlighted the role of ETFs in attracting both institutional and retail investors to the crypto space, underscoring Wintermute’s commitment to facilitating this process.
The collaboration with OSL and HashKey marks Wintermute’s broader expansion into the Asian market. Gaevoy expressed optimism about Hong Kong’s role as a leading advocate for crypto in the APAC region, expressing hope that other countries will follow suit in embracing digital assets.
The three Hong Kong-listed bitcoin ETFs, which commenced trading on April 29, have witnessed a gradual uptake since their launch. As of the close of Monday’s trading session, these ETFs had accumulated nearly 4,400 bitcoins, representing approximately $276 million in assets under management.