Kraken's Indices Provider Anticipates $1B AUM in Hong Kong ETFs by 2024 End: Bloomberg
Summary
CF Benchmarks CEO Sui Chung predicts that crypto exchange-traded funds (ETFs) in Hong Kong will reach $1 billion in assets under management (AUM) by the end of 2024. CF Benchmarks, a unit of cryptocurrency exchange Kraken, provides reference data for crypto ETFs, including BlackRock's IBIT, and represents around half of the crypto benchmarking market. The firm is also working with the new ETFs in Hong Kong, which debuted with low trading volume. Chung identifies South Korea and Israel as the next markets to list crypto ETFs. CF Benchmarks was formed in 2017 and acquired by Kraken in 2019.
