Hong Kong MoxBank launches Bitcoin and Ethereum spot ETF trading service

Mox Bank has announced that it will be the first Hong Kong internet bank to offer cryptocurrency-related investment products.
According to Cointelegraph, on the 7th (local time), Standard Charter, headquartered in Hong Kong,
MoxBank, a subsidiary of Standard Chartered, announced today that it will launch a Bitcoin and Ethereum spot exchange-traded index fund (hereinafter referred to as the
MoxBank has announced that it will offer direct trading of crypto assets through cooperation with licensed exchanges.
The bank plans to expand its currency-related services. It will charge at least $3.85 (about JPY 570) or 0.12% of trading volume on Hong Kong-listed cash and derivative ETFs.
The company plans to charge 0.01% or at least $5 per share on U.S.-listed derivative ETFs, providing a cost-effective option for cryptocurrency ETF trading.
MoxBank, a digital bank launched in September 2020, reported that 28% of its customers have already invested in cryptocurrencies, and of those, 18% are actively trading cryptocurrencies.
"By innovating and adapting to the changing market, we will lead the way in establishing a global benchmark in Hong Kong," said Barbaros Uygun, CEO of MoxBank.
"The addition of cryptocurrency ETFs to the MoxInvest platform will give our clients access to a new asset class," he said.
"It can be done," he added.