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Join Our Telegram channel to stay up to date on breaking news coverage HSBC Hong Kong has initiated support for trading Bitcoin and Ethereum futures Exchange Traded Funds (ETFs), according to a recent announcement. This move expands opportunities for local customers to participate in digital asset derivatives, underscoring the importance of Hong Kong in the rapidly evolving Asian cryptocurrency landscape. On Monday, the bank added these ETFs to its user-friendly mobile application “Easy Invest.” The derivatives-based ETFs provide traders with the chance to engage with Bitcoin and Ethereum futures that are traded on commodity exchanges. HSBC Hong Kong has confirmed that it will offer three specific products: CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF. These additions were initially covered by Chinese cryptocurrency journalist Colin Wu. A clear customer need Regarded as Hong Kong’s biggest bank, HSBC is the pio...

3 key indicators are behind the prolonged bearish trend in Ether, and data fails to identify an immediate catalyst for a price breakout. Ether’s price has been stuck below $1,920 for the past 16 days, which is especially concerning since the latest breakout attempt on May 6 lasted less than 24 hours. Excluding this brief price pump, Ether’s (ETH) journey below $1,920 was initiated on April 21, over 30 days ago. One can likely blame the Ethereum network’s $8.80 average transaction fee for investors’ diminished appetite, but the macroeconomic environment has also played an important role. On May 22, JPMorgan Chase CEO Jamie Dimon said it is impossible to predict the outcome of the Federal Reserve’s monetary policy, designed to curb inflation. As CNN reported, Dimon added: “You’re already seeing credit tighten up because the easiest way for a bank to retain capital is not to make the next loan." The uncertainty surrounding the United States debt ceiling standoff between Joe Biden’...