Wintermute, a cryptocurrency market maker, will provide liquidity for spot Bitcoin and ether exchange-traded funds (ETFs) in Hong Kong, collaborating with OSL and HashKey. This move aims to solidify the company's presence in the Asian cryptocurrency market.

According to Wintermute, they plan to engage sub-custodians OSL and HashKey for managing spot crypto ETFs in Hong Kong. Wintermute CEO Evgeny Gaevoy emphasized that ETFs play a crucial role in attracting additional investors to the cryptocurrency space, both institutional and retail, which wouldn't be possible without liquidity providers like Wintermute. Hong Kong has positioned itself as a leading advocate for cryptocurrencies in the Asia-Pacific region, setting an example for other businesses to follow.

In April, China Asset Management, Harvest Global Bosera, and HashKey entered the Hong Kong market, introducing six spot Bitcoin and Ether ETFs. These ETFs recently experienced their first collective daily Bitcoin outflow, notably from China Asset Management's ETF, with 75.36 BTC withdrawn separately from the product.

The trade volume of the three spot Bitcoin ETFs amounted to $8.6 million, slightly lower than the initial trade volume of $9.74 million. Collectively, the three ETFs generated $1.8 million in trade volume, a decrease compared to the $2.99 million recorded on April 30th.

The combined Bitcoin holdings of the three spot Bitcoin ETFs totaled approximately 4,150 Bitcoins, with net assets amounting to $266.8 million, compared to $247.7 million on the initial day.