Mox Bank Launches Bitcoin and Ether ETFs in Hong Kong

Mox Bank Expands Crypto Offerings with ETFs

Mox, the digital banking subsidiary of Standard Chartered, has officially launched bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs) for its clients in Hong Kong. This announcement comes shortly after the bank introduced its new investment platform, which aims to cater to the growing interest in digital assets.

In addition to offering crypto ETFs, Mox plans to facilitate direct cryptocurrency investments through a collaboration with a licensed exchange. Currently, Hong Kong has only two licensed exchanges, HashKey and OSL, that are authorized to provide crypto trading services.

CEO Barbaros Uygun expressed enthusiasm about this new development, stating, “By adding Crypto ETFs to the Mox Invest platform, we empower our customers to access emerging asset classes with confidence. This initiative allows them to explore new investment opportunities within the dynamic crypto ecosystem in a regulated and trusted environment, all through the user-friendly Mox app.”

While various trading platforms already offer crypto ETFs, Mox distinguishes itself by charging a competitive fee structure. The bank imposes a transaction fee of only 0.12% of the transaction volume for Hong Kong-listed ETFs, with a minimum charge of HK$30 (approximately $3.85). For U.S.-listed ETFs, the fee is even lower at 0.01%, with a minimum charge of $5. According to Henry Lau, Mox’s head of investment, these rates are the most affordable among banks in the region.

Since their debut earlier this year, U.S.-listed spot bitcoin and ether ETFs have attracted substantial investor interest. Bitcoin ETFs alone have seen over $17 billion in inflows since January. On the other hand, spot ether ETFs, which began trading in July, have experienced a net outflow of $364 million due to investors withdrawing funds from Grayscale’s Ethereum Trust, as reported by Farside Investors.

Despite the success of U.S.-listed ETFs, their counterparts in Hong Kong have struggled to gain traction. The three main issuers—Bosera HashKey, ChinaAMC, and Harvest Global—have not recorded any inflows this month, according to data from Coinglass.