Kraken’s CF Benchmark Aims to Reach $1 Billion AUM in Hong Kong ETFs by 2024, According to Bloomberg Report

CF Benchmarks, a subsidiary of cryptocurrency exchange Kraken, is experiencing significant growth thanks to the rise in spot Bitcoin exchange-traded funds (ETFs). The firm, which provides price data for the ETFs, now handles $24 billion worth of crypto ETFs, making up half of the crypto benchmarking market. The company is also working with the new Hong Kong ETFs, which are predicted to reach $1 billion in assets under management (AUM) by the end of 2024. South Korea and Israel are next in line to list crypto ETFs. The demand for US spot ETFs has exceeded expectations, with four times the projected amount of assets. Hong Kong recently approved spot Bitcoin and Ethereum ETFs, while the approval process for Ethereum ETFs in the US is facing obstacles.