Eddid Financial (“the Group”) announced that its subsidiary, Eddid Securities and Futures(“ESFL”),has received approval from the Securities and Futures Commission of Hong Kong(“SFC”) to upgrade its in-kind subscription and redemption mechanismfordigital assetspotETFs. This enhancement allows clients to directly subscribe to or redeem Bitcoin and Ether spot ETFs using cryptocurrencies via their Eddid ONE Virtual Asset Account. Without the need to create a separate virtual asset trading platform account, operational efficiency and user experienceare significantly enhanced.
The Group's bespokevirtual asset account systemwill be seamlesslyintegrated with the SFC's robust regulatory framework, enablinginvestors to conveniently transactrelevant ETFs using cryptos. This upgradesubstantially improvesmarket flexibility and liquidity. The Groupalsooffersmargin financing services for virtual asset spot ETFs, allowingclients to leverage their ETF holdings to pursueinvestment strategieswith greater agility.
ESFLwasone ofthe first brokerages to receive a licenseupliftfrom the SFC in September 2023. Last year,it strengthened its positionas a participating broker inAsia's first Bitcoin spot ETFsand theworld's first Ethereum spot ETFs, while continuing to pioneerinnovativetokenized Real-World Assets (RWA)solutions. With the rapid growingvirtual asset market in Hong Kong, this upgrade is expected to deliver significant value to the market. The Group remains committed to driving Hong Kong's evolution into aglobal hub for virtual asset finance, driven by its dual engines ofinnovation and compliance.
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SOURCE Eddid Financial
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