Growth Forecast for Hong Kong ETFs: Bloomberg at a Glance
Date: 2024-05-03 Author: Henry Casey Categories: CRYPTO PAYMENTS
CF Benchmarks, the Kraken index provider, forecasts significant growth in assets under management (AUM) in Hong Kong cryptocurrency ETFs by the end of 2024, Bloomberg reports. Despite modest initial figures, the company expects to reach $1 billion.
Market trends
CF Benchmarks is a leading provider of benchmark data for crypto ETFs, especially Bitcoin products, including BlackRock's IBIT. The company's total assets under management in the cryptocurrency ETF market are approximately $24 billion, which represents about half of the entire crypto benchmarking market.
Growth prospects
Despite modest trading volumes, the new Hong Kong ETFs that CF Benchmarks is partnering with are expecting significant AUM growth. SUI CEO Chung predicts that figure will reach $1 billion by the end of the year, citing an interview.
Prospects in other markets
South Korea and Israel are seen as potential markets for listing cryptocurrency ETFs. According to Chung, South Korea has already become a preferred destination for long-term investment through ETFs.
Founded in 2017 and acquired by Kraken in 2019, CF Benchmarks is poised to thrive in the cryptocurrency ETF market, showing impressive growth and attracting the attention of crypto investors.
