Hong Kong’s Bitcoin and Ether ETFs: $200M+ Inflows on Day 1
Hong Kong has seen a significant influx of funds into its spot Bitcoin and Ether exchange-traded funds (ETFs) since their debut on April 30. According to data from Arkham Intelligence, the Bosera HashKey ETFs have accumulated a total of 964 Bitcoin (BTC) and 4,290 Ether (ETH), amounting to $71.94 million in assets under management. ChinaAMC’s spot Bitcoin and Ether ETFs have amassed a combined $123.61 million in assets. The asset management data for Harvest Global’s ETFs has not been updated by the Hong Kong Stock Exchange at this time. The turnover for these two ETFs has reached $23 million.
The assets gathered by Hong Kong’s ETFs are considerably less when compared to their American counterparts. In the first week of their debut, spot Bitcoin ETFs in the United States attracted nearly $4 billion in assets under management, and on January 12 alone, they had a trading volume of $4.5 billion on Wall Street. Eric Balchunas, a senior ETF analyst at Bloomberg, cautioned against having high expectations for Hong Kong’s ETFs, but noted that in local terms, they still garnered significant interest. ChinaAMC’s Bitcoin ETF, for example, collected $123 million on its first day, ranking it among the top 20% of all 82 ETFs launched in Hong Kong in the past three years.
One key benefit of Hong Kong’s crypto ETFs is that non-Hong Kong nationals can also invest in them if they meet the local regulatory requirements. Investors can directly purchase ETF units using BTC and ETH, which is not an option available with their American counterparts. This flexibility allows for greater accessibility to these investment opportunities.
A survey conducted by Hong Kong-regulated crypto exchange OSL revealed that 76.9% of crypto-savvy respondents in the city plan to invest in the spot Bitcoin and Ether ETFs. This positive sentiment reflects the growing acceptance and importance of digital assets in Hong Kong’s economy, solidifying the city’s position as a digital asset hub, according to Gary Tiu, the executive director and head of regulatory affairs at OSL.
Despite the enthusiasm surrounding Hong Kong’s crypto ETFs, they are currently only accessible to the city’s estimated 6.4 million adult residents. Mainland Chinese investors, who number over 1 billion, are unable to access these ETFs unless they possess a Hong Kong residence permit.
16 thoughts on “Hong Kong’s Bitcoin and Ether ETFs: $200M+ Inflows on Day 1”
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I guess Hong Kong’s ETFs are okay if you’re into small-time investments. But for those who want to make big money, it’s definitely not the place to be. 💸
Hong Kong’s ETFs may have garnered some interest, but let’s see if they can sustain it in the long run. I have my doubts.
It’s incredible to see Hong Kong solidifying its position as a digital asset hub. The possibilities are endless! 🌍💰
Finally, a chance for non-Hong Kong investors to enter the market! This is a game-changer.
Hong Kong’s strong interest in Bitcoin and Ether ETFs demonstrates the city’s forward-thinking approach to finance and technology. 🏙️💪
Ugh, the turnover for these ETFs is so low. What’s the big deal anyway? Hong Kong needs to step up its game if it wants to be taken seriously in the crypto world.
Wake me up when Hong Kong’s ETFs actually make a significant impact in the crypto world. Until then, I’ll be taking a nap. 💤
The survey results speak for themselves a majority of crypto enthusiasts in Hong Kong are eager to invest in these ETFs. Exciting times ahead!
The potential for growth in Hong Kong’s crypto ETF market is immense. Exciting times ahead!
These impressive numbers highlight the growing acceptance of cryptocurrencies and their importance in Hong Kong’s economy.
The demand for crypto ETFs is on the rise, and Hong Kong is responding to its residents’ interests.
The assets gathered by Hong Kong’s ETFs are peanuts compared to what the US ETFs are raking in. What’s the point of even mentioning them? 🥱
The enthusiasm surrounding Hong Kong’s crypto ETFs is well-deserved. The market is ripe with potential.
Hong Kong is solidifying its position as a digital asset hub with these impressive numbers.
The accessibility of Hong Kong’s ETFs is a key advantage. It’s great to see more people getting involved in the crypto market!
The popularity of Hong Kong’s ETFs showcases the increasing acceptance of cryptocurrencies as legitimate investment options.