The brokerage firm will help SFC-licensed virtual asset trading platforms with Bitcoin and Ether ETFs in Hong Kong.
Eddid Financial has been a participating dealer for the first batch of all six Spot Bitcoin and Spot Ether ETFs in Hong Kong.
The brokerage firm will help SFC-licensed virtual asset trading platforms to facilitate its clients in directly subscribing to and redeeming these ETFs using Bitcoin and Ether.
Eddid will also offer margin financing services for these ETFs, providing leverage against positions in virtual asset (“VA”) spot ETFs to enhance clients’ purchasing power.
The news comes on the heels of Hong Kong’s SFC conditional approval of three Spot Ether ETFs and three Asian-based Spot Bitcoin ETFs by Harvest Global, China AMC (Hong Kong), Bosera Asset Management and HashKey Capital.
Only a few dealers will participate in this entire batch of ETFs, assisting with their creation and redemption in the global primary market and to ensure smooth transactions. Eddid will be one of them.
Eddid will support in-kind subscriptions, redemptions, and offer margin for crypto spot ETFs
According to Eddid, Hong Kong is the first global market to support in-kind subscriptions and redemptions for VA spot ETFs, significantly enhancing market flexibility and liquidity.
The firm will be among the first brokers in Hong Kong to offer such in-kind subscriptions and redemption services, and will also be one of the first brokers in the jurisdiction to offer margin financing services for VA spot ETFs, enabling clients to leverage their positions in these ETFs.
Additionally, its research team will provide investors with a series of professional research reports on VA-related products. Reports on the upcoming Spot Bitcoin and Spot Ether ETFs have already been published and are accessible for free without registration.
Eddid Financial regulated in Hong Kong and the United States
The diversified businesses of Eddid Financial range from retail to institutional and include fintech, internet finance, wealth management, asset management, investment banking, and virtual assets.
Eddid is regulated by Hong Kong’s SFC (licenses for types 1, 2, 3, 4, 5, 6, and 9; SEHK and HKCC participant (OTP-C broker number: 0974 and 0977), Insurance Broker Company license; Trust or Company Service Provider License) and is also registered in the United States with the NFA, the SEC, and the CFTC.
The brokerage firm boasts its flagship trading app, Eddid ONE, and its new investment-focused social network app, ViV.
Last year, Eddid announced a JV with AF Services Company Limited to jointly expand the fintech and investor ecosystem in the country. Holding a variety of licenses and memberships across key financial markets, including Hong Kong SAR and the United States, Eddid Financial is bringing international markets to Vietnam.
The broker recently entered the Malaysian market through a joint venture with MPay, the fintech provider for banks and financial institutions. MPay offers P2P lending, micro lending, project financing, P2P Remittance, cross-border remittance, merchant acquiring, and e-Wallet & Mastercard prepaid card issuer in Malaysia.
