Futu Securities has announced the official launch of Bitcoin and Ethereum for its 22 million customers. Futu Securities has become the first Hong Kong-based brokerage to offer Bitcoin and Ether directly to Hong Kong’s retail investors. South China Morning Post.
Futu, an online retail broker, announced last month it received a Securities and Futures Commission upgrade. This allows Futu the ability to provide virtual asset trading services for both retail and professional customers. Futu has offered shares of Alibaba Group Holdings, Nvidia and other companies as rewards to try to lure investors.
Trading of both digital assets began live on the 23rd July, and they have been performing well. Bitcoin open interest reached a high record on July 29 of $39.4 Billion, indicating that there may be a rise in price. Futu Securities’ Ethereum trading performed very well after its launch.
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By 2024, the crypto-based ETF has dominated finance. Crypto ETFs have prompted more adoption of cryptocurrency globally. Digital assets are becoming more popular in the economy as an alternative to fiat currency. Ethereum and Bitcoin ETFs have boosted the price of both coins in the US.
Further, the speculation around US elections and BTC’s integration have fueled interest in Bitcoin and other cryptocurrencies. Donald Trump has recently talked about making BTC the strategic reserve currency for the United States. The future of Bitcoin has changed since Donald Trump’s speech at 2024 Bitcoin Conference.
Futu has also applied for a crypto-exchange license in order to use its PantherTrade platform. Hong Kong is expected to accept the decision as it aims to be a centre for digital finance and cryptocurrencies such as Bitcoin and Ethereum.
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Source: watcher.guru
