Bitcoin (BTC) ETFs in Hong Kong Predicted to Hit $1 Billion AUM by 2024, Forecasts Kraken Unit
- London-based CF Benchmarks, a unit of crypto exchange Kraken, is positioning itself as a notable beneficiary of the surge in spot Bitcoin ETFs this year and shares an increasingly bullish outlook for the ETF market in Hong Kong and the US through 2024.
- With the recent debut of these ETFs in the US in January and their subsequent launch in Hong Kong, CF Benchmarks has become a key reference data provider for approximately $24 billion of cryptocurrency ETFs.
- CF Benchmarks licenses its benchmarks to the ETFs and earns fees based on assets under management. The company currently represents around half of the crypto benchmarking market and is actively collaborating with the new Bitcoin ETFs in Hong Kong.
CF Benchmarks, a unit of Kraken, is capitalizing on the surge in Bitcoin ETFs, becoming a key reference data provider for $24 billion of cryptocurrency ETFs and sharing a bullish outlook for the ETF market through 2024.
Bitcoin ETFs Set To Shine In Hong Kong
CF Benchmarks licenses its benchmarks to the ETFs and earns fees based on assets under management. The company currently represents around half of the crypto benchmarking market and is actively collaborating with the new Bitcoin ETFs in Hong Kong. Sui Chung, the CEO of CF Benchmarks, told Bloomberg that he envisions expanding crypto ETFs into other markets such as South Korea and Israel. Chung notes that South Korea, in particular, has seen ETFs become the preferred option for long-term savings and has shown a high level of adoption of digital assets.
