Several cryptocurrency news outlets have reported that HSBC Hong Kong will be allowing its customers to access bitcoin (BTC), ether (ETH) and exchange-traded fund (ETF) on Monday.

The news was reported first by crypto journalist Colin Wu, and then reproduced on a variety of sites including the Block.

This appears to be a bit of an overreaction. HSBC customers in Hong Kong can trade these crypto investment products, since the HKEX listed them in December. The bank allows all ETFs to be traded publicly.

The CSOP Bitcoin Futures and Ether Futures Exchange Traded Funds (3066 and 3068) were the first crypto ETFs to be listed on the HKEX. In January, the Samsung Bitcoin Futures Active ETF (3135) joined these.

The latest development is that HSBC’s customers are now able to access these ETFs through the bank’s online investment platform.

The crypto community’s overreaction to the modest development shows the enthusiasm for mainstream institutions like HSBC to adopt cryptocurrency investments in major financial centres such as Hong Kong.

Hong Kong is emerging as a global crypto hub. The Securities and Futures Commission has accepted applications for cryptocurrency trading platforms from June 1 and invited Coinbase to register in the area.

Read more: Hong Kong put pressure on 3 major banks to take on crypto exchanges as clients: Report

Nelson Wang is the editor.