Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have surpassed 2 billion Hong Kong dollars (roughly $256 million) in assets under management (AUM).
The Hong Kong Bitcoin (BTC) ETFs have had a relatively slow start compared to their United States counterparts.
According to data from SoSo Value, the three spot BTC ETFs in Hong Kong experienced a net inflow of approximately 247 BTC in the past week, bringing their total holdings to around 4,450 BTC. The total AUM for the ETFs now stands at around HK$2.1 billion ($269 million).
ETFs from China Asset Management and Harvest Asset Management — operated in partnership with the digital asset trading platform OSL — account for more than HK$1.3 billion ($167 million) in AUM. The third spot Bitcoin ETF, which is unaffiliated with OSL, holds HK$776 million ($99.5 million), representing about 42% of the market.
Related: ‘China is about to start bidding’ — Will Hong Kong Bitcoin ETFs spark the halving rally?
Hong Kong investors have a narrow range of options to gain exposure to BTC when compared with the 11 offerings in the US market.
A slower start than the US
Despite the recent inflows, Hong Kong’s spot Bitcoin ETFs have underperformed relative to their US counterparts. When the ETFs launched on April 30, they attracted a total of $262 million of inflows in their first week, with the majority of this figure subscribed before the listings went live.
Actual asset inflows during the first week were a modest $14 million, a stark contrast to the billions that flowed into US spot Bitcoin ETFs when they launched in January.
This disparity highlights the challenges Hong Kong faces in positioning itself as a global hub for cryptocurrency investments.
As noted by Bloomberg ETF analyst Rebecca Sin, the city’s in-kind ETF creation model offers a unique opportunity to increase AUM and trading volume. However, Hong Kong has yet to catch up with the US market in terms of investor interest and capital inflows.
Magazine: Mt. Gox not dumping Bitcoin just yet, Hong Kong boots out crypto exchanges: Asia Express
Check other news for today and Please stand by..
*********************************
If one of the paying programs on our Monitor appeals to you, please support EmilyNews by registering for it on our website. Thanks very very much!
EN web Support Chat | Hyips and Crypto questions – HyipChatEN
Telegram Chat for Crypto and Hyip reports: @HyipChatEN
*********************************
Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook, EN Telegram, EN Twitter
or Subscribe to EN Feedburner and submit your email address!
If you like this article and want to support EN – please share it by using at least few of social media buttons below. Thanks and See you tomorrow!
