From Hong Kong to Singapore, crypto ETFs face chill

SINGAPORE — When Desmond Yong surveyed about 100 attendees at a blockchain conference in Taiwan last month, not a single delegate admitted to buying exchange traded funds (ETFs) tracking cryptocurrencies, despite the hype around their Asia launch earlier this year. “It’s quite clear that ETFs are targeted at a very certain, niche, crowd,” the 40-year-old, who previously worked at the Monetary Authority of Singapore and is currently the legal and compliance director at blockchain technology outfit Chainup, told Nikkei Asia. “I think the industry overhyped it.”