International brokerage firm Interactive Brokers has informed its clients of the launch of spot Exchange Traded Products (ETPs) on Bitcoin and Ether in Hong Kong, which are already available for trading on the Hong Kong Stock Exchange.
IBKR offers low fees on spot Bitcoin ETPs: as low as US$0.0005 to US$0.0035 per share with IB SmartRouting SM. "Gain access to Bitcoins without owning the asset directly. Buy spot Bitcoin ETPs directly from your IBKR account – no crypto wallet required," the broker's website states.
"The new spot Bitcoin and Ether ETPs are a welcome addition to Interactive Brokers' product offering," added David Friedland, Head of APAC.
Qualified clients of Interactive Brokers Hong Kong will now be able to trade the new spot Bitcoin and Ether ETPs in addition to stocks, options, futures, currencies, bonds, and many other instruments through one centralized platform. Without owning digital assets, clients can easily increase cryptocurrency exposure in their portfolios by purchasing Bitcoin and Ether ETPs through their IBKR brokerage accounts.
David Friedland commented, "We are excited to add the new Bitcoin and Ether spot ETPs to our product lineup. With these simple solutions, our clients now have more freedom to manage their Bitcoin exposure from the same brokerage account they use to trade Interactive Brokers' wide range of international commodities."
As of April 30, 2024, the following spot Bitcoin and Ether ETPs will be available: Bosera/Haskey, ChinaAMC, and Harvest.
The broker notes that qualified investors should read the prospectus of each ETP before trading.
Spot crypto ETPs offer investors greater access to Bitcoin and Ether, allowing them to use the cryptocurrency without having to purchase the asset. Spot ETPs contain actual Bitcoins rather than derivatives pegged to the price of Bitcoin, meaning that the price of spot Bitcoin ETPs fluctuates based on the price of Bitcoin in the cryptocurrency markets.
It is worth noting that IBKR offers the lowest refinancing rates in the industry.
Interactive Brokers is an automated global electronic brokerage firm serving individual investors, hedge funds, proprietary trading groups, registered investment advisors, and introducing brokers.
