Tiger Brokers' Yang Xu Shares Insights on Bitcoin ETFs Bridging the Gap Between Traditional Finance and Digital Assets

Rhea-AI Summary

Yang Xu, Global Partner at Tiger Brokers, shared insights on Bitcoin ETFs at InnoBlock 2024. He highlighted how these ETFs provide safer access to cryptocurrencies and address custodian concerns. Xu noted increased institutional demand for Bitcoin ETFs, potentially contributing to market stability.

Tiger Brokers offers 24-hour Bitcoin ETF trading globally and provides direct digital asset trading access to Hong Kong users. The company upgraded its Type 1 licence in January to include virtual asset dealing services. In June, retail investors in Hong Kong gained access to trade virtual assets like BTC, ETH, AVAX, and LINK.

Tiger Brokers' institutional wealth platform, TradingFront, offers advanced order types for Bitcoin ETF investing, including TWAP and VWAP orders. Xu emphasized the need for stronger regulatory frameworks and investor protections to increase accessibility and legitimize the digital asset space.

Positive

• Tiger Brokers offers 24-hour Bitcoin ETF trading globally
• Company upgraded its Type 1 licence to include virtual asset dealing services in Hong Kong
• Retail investors in Hong Kong can now trade virtual assets including BTC, ETH, AVAX, and LINK
• TradingFront platform provides advanced order types for institutional Bitcoin ETF investing

Negative

• None.

Insights

Financial Analyst

The introduction of Bitcoin ETFs represents a significant development in bridging traditional finance and digital assets. This move could potentially increase institutional demand and contribute to market stability, as noted by Yang Xu. The approval of Bitcoin ETFs in various jurisdictions could lead to:

• Safer access to cryptocurrencies for traditional investors
• Increased portfolio diversification opportunities
• Greater market stability due to long-term institutional investments

Tiger Brokers' strategic positioning in this space, including their 24-hour Bitcoin ETF trading and the expansion of their Hong Kong operations to include virtual asset trading for both professional and retail investors, demonstrates their proactive approach to market trends. The upgrade of their Type 1 licence and the launch of virtual asset trading services in Hong Kong puts them at the forefront of this emerging market segment.

The company's institutional wealth platform, TradingFront, offers sophisticated trading tools like TWAP and VWAP orders, which could attract institutional clients looking to execute large trades efficiently. This positions Tiger Brokers well to capitalize on the growing institutional interest in cryptocurrency investments.

However, the success of Bitcoin ETFs and broader cryptocurrency adoption still hinges on regulatory developments and market acceptance. Investors should monitor regulatory progress and institutional adoption rates as key indicators of the potential growth and stability in this sector.

10/08/2024 - 11:00 PM

HONG KONG, Oct. 8, 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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SOURCE Tiger Brokers

FAQ

What did Yang Xu discuss about Bitcoin ETFs at InnoBlock 2024?

Yang Xu discussed how Bitcoin ETFs provide safer access to cryptocurrencies, address custodian concerns, and potentially contribute to market stability due to increased institutional demand.

What virtual asset trading services does Tiger Brokers (TIGR) offer in Hong Kong?

Tiger Brokers (TIGR) offers direct access to digital asset trading for both professional and retail investors in Hong Kong, including trading of BTC, ETH, AVAX, and LINK.

When did Tiger Brokers (TIGR) expand its virtual asset trading services to retail investors in Hong Kong?

Tiger Brokers (TIGR) fully expanded its virtual asset trading services to retail investors in Hong Kong in June 2024, after receiving approval from the SFC.

What advanced features does Tiger Brokers' TradingFront platform offer for Bitcoin ETF investing?

TradingFront offers advanced order types for Bitcoin ETF investing, including time-weighted average price (TWAP) and volume-weighted average price (VWAP) orders, as well as conditional orders with specific execution conditions.