Mox Invest Adds Crypto ETFs: What Hong Kong Investors Need to Know
Mox Invest Now Offers Crypto ETFs – Hong Kong-based Mox has launched Crypto ETFs directly on its investment platform, Mox Invest. This move simplifies cryptocurrency investments by eliminating the need for managing a personal crypto wallet. Mox is the first virtual bank in Hong Kong to offer such products, tapping into the growing interest in cryptocurrencies in the region. According to an undisclosed survey cited by Mox, nearly one-third of Hong Kong residents have engaged with crypto, and one in three crypto owners are likely to switch to banks offering crypto-related products.
Mox CEO Highlights Innovation anda Accessibility
Barbaros Uygun, CEO of Mox, emphasized the bank’s commitment to innovation and market responsiveness. “As a digital bank aiming to set global benchmarks from Hong Kong, Mox believes in staying ahead by being innovative and responsive. Adding Crypto ETFs to the Mox Invest platform enables our customers to access emerging asset classes confidently. This allows them to explore new investment opportunities within the evolving crypto ecosystem in a regulated and trusted environment through the Mox app.”
Range of Crypto ETFs Available
Mox Invest will offer a variety of Crypto ETFs compliant with Hong Kong regulations. This includes spot and derivative Crypto ETFs listed in Hong Kong, as well as US-listed derivative Crypto ETFs. The investable assets cover major cryptocurrencies like Bitcoin and Ethereum for spot Crypto ETFs and Bitcoin and Ethereum futures for derivative Crypto ETFs.
Competitive Trading Commissions
Mox offers competitive trading commissions for both HK-listed and US-listed Crypto ETFs. The trading fee for HK-listed ETFs is 0.12% of the transaction value (minimum HKD30), while US-listed ETFs are charged USD0.01 per share (minimum USD5). Notably, Mox does not impose any custodian or management fees beyond those charged by the asset management company.
Mox Invest: A Comprehensive Investment Platform
Launched late last year, Mox Invest addresses the needs of digital wealth management clients. It supports trading in both U.S. and Hong Kong equities and offers a specialized fund. The service, which is available by invitation, builds on the Mox app’s user-friendly design. Mox Invest facilitates trading in Hong Kong equities and U.S. stock portfolios, including fractional securities trading, marking a first for any bank in Hong Kong.
Earning Interest and Exclusive Fund Opportunities
In addition to stock trading, Mox Invest allows customers to earn interest on idle funds. This feature helps customers grow their wealth while planning their investment strategies. Mox’s partnership with Allianz Global Investors Asia Pacific Limited (AllianzGI) introduces an exclusive fund with a remarkably low minimum investment threshold of just HKD 1. This collaboration enhances Mox Invest by offering risk management and diverse investment options through the Mox app.
Expanding Crypto Investment Options
The introduction of Crypto ETFs further broadens Mox Invest’s product range, catering to the demand from Hong Kong residents amid a competitive brokerage landscape. Mox Bank, also known as Mox, is a virtual bank majority-owned by Standard Chartered Bank (Hong Kong) Limited. Established as a joint venture with Hong Kong Telecom (HKT), PCCW, and Trip.com Group, Mox Bank launched in Hong Kong in September 2020. This venture represents a significant advancement in Hong Kong’s digital banking sector.
FAQ: Mox Bank’s Crypto ETFs
What are Crypto ETFs?
Crypto ETFs (Exchange-Traded Funds) are investment funds that are traded on stock exchanges, similar to stocks. They track the performance of cryptocurrencies or related assets and allow investors to gain exposure to the crypto market without directly holding the underlying assets.
Which Crypto ETFs are available through Mox Invest?
Mox Invest offers a range of Crypto ETFs including HK-listed spot and derivative Crypto ETFs, as well as US-listed derivative Crypto ETFs. These ETFs cover underlying assets such as Bitcoin and Ethereum for spot Crypto ETFs, and Bitcoin and Ethereum futures for derivative Crypto ETFs.
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