HONG
KONG, Oct. 9, 2024 /PRNewswire/ -- Yang Xu, Global Partner at leading global online
brokerage Tiger Brokers, shared insights on how Bitcoin
Exchange-Traded Funds (ETFs) are shaping the traditional finance
industry while speaking at InnoBlock 2024, one of TOKEN2049's
largest side events this year. Xu participated in a panel
discussion titled Bitcoin ETFs and Traditional Finance: Bridging
the Gap, where he shared that Bitcoin ETFs help to provide
safer access to the underlying cryptocurrency while addressing
several long-standing issues within the digital asset space, such
as master custodian concerns.
With the approval of Bitcoin ETFs on the horizon in several
jurisdictions, the panel centred on how these ETFs are seeing
increased institutional demand, as well as the regulatory
challenges the industry needs to solve in order to create a safer
environment for wider institutional adoption of digital assets. Xu
added that greater institutional demand from mature investors,
particularly those seeking portfolio diversification and
longer-term investments, could potentially contribute to greater
market stability.
In addition to the panel discussion, Xu highlighted that there
has also been increased interest from retail investors beyond
institutional demand for digital asset trading. To meet this need,
Tiger Brokers provides 24-hour Bitcoin ETF trading to its users
globally. Moreover, Tiger Brokers (HK) provides its Hong Kong users direct access to digital asset
trading. In January this year, it upgraded its Type 1 licence to
include virtual asset dealing services, becoming one of the first
mainstream fintech brokerage firms in Hong Kong to do so. In May, virtual asset
trading services were officially launched to professional investors
in Hong Kong. These services were
then fully expanded to retail investors in June after SFC's
approval, and currently retail investors in Hong Kong can trade virtual assets including
BTC, ETH, AVAX, and LINK.
Xu also added that Tiger Brokers' institutional wealth platform,
TradingFront, provides its institutional clients a competitive edge
in Bitcoin ETF investing by offering a variety of order types,
including time-weighted average price (TWAP) and volume-weighted
average price (VWAP) orders, which are particularly useful for
institutions seeking to execute large trades without significantly
impacting market prices. TradingFront also supports conditional
orders, allowing clients to set specific conditions under which
trades should be executed, such as price triggers or time
constraints.
"Ultimately, greater institutional inflows and uptake of Bitcoin
ETFs would be a welcome addition — but to increase accessibility,
the industry first needs to focus on strengthening regulatory
frameworks, enhancing investor protections, and fostering
collaboration among market participants. By proactively addressing
these concerns, the industry can pave the way for broader approval
of Bitcoin ETFs and further legitimize the digital asset space.
Looking into the future, it would be exciting to see Bitcoin ETFs
in the region, such as on the Hong Kong Stock Exchange, and witness
how this will impact Southeast
Asia's traditional finance landscape," added Xu.
-ENDS-
About Tiger Brokers:
Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading
online brokerage firm with a focus on redefining global investing
with technologies for the next generation.
Since our inception, the company has relentlessly offered a
superior user experience to let everyone enjoy efficient and smart
global investing, by bringing a multitude of quality financial
products and services across brokerage, employee stock ownership
plan (ESOP) management, investment banking, wealth management,
investor community, and investor education in our pursuit of
becoming a world-leading online brokerage.
We strive to elevate financial technology R&D to a new
level. While we inherit the best traditions from the financial
sector and blend them with the best minds of tech experts, we
develop our own technology infrastructure—an aggregation that
enables multi-currency trading of various products across markets,
guaranteeing our reliable, secure, and scalable services are
accessible to all with low latency.
Currently, we serve over 10 million users and over 2 million
account holders worldwide on our flagship platform "Tiger Trade",
own 78 licences and qualifications in different markets, and have
over 1,000 employees on the team in Singapore, New
Zealand, the US, Hong Kong,
Australia, and China. In 2019, the company was listed on
Nasdaq as UP Fintech Holding Limited under the ticker TIGR.
For more information about Tiger Brokers as a company, please
visit itiger.com.
About Tiger Brokers (HK)：
Tiger Brokers (HK) Global Limited (Central number: BMU940) holds
Class 1, 2, 4, 5 and 9 licences of the SFC. Starting from
30th November 2022, with Tiger Trade,
Tiger Brokers' flagship app, Hong
Kong users can trade financial products from major markets
around the world, such as Hong
Kong stocks, warrants, options, US stocks, US fractional
shares and ETFs, etc., providing a one-stop solution to their
investment needs. In the future, we will continue to expand our
trading markets and categories to better serve Hong Kong investors.
For more information about Tiger Brokers (HK), please
visit tigerbrokers.com.hk
About TradingFront:
TradingFront by Tiger Brokers is the next-gen institutional
wealth management platform that provides independent wealth and
asset managers and family offices with solutions that enable better
management of client investments and enhance operational service
efficiency.
For more information, please visit
https://www.itiger.com/sg/market/tradingfront?lang=en_US.
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