Since the spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong began trading on April 30, they have accumulated $1.96 billion in bitcoin and $26.74 million in ethereum.
Hong Kong Spot ETFs Secure $1.96B in Bitcoin, $26M in Ether
This article was published more than a year ago. Some information may no longer be current.
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Hong Kong’s Spot Bitcoin and Ether ETFs See Modest Growth
Hong Kong’s spot bitcoin and ether ETFs have been active for 44 days since their launch. The funds, provided by AMC China, Bosera & Hashkey, and Harvest, are the only options available in the region. AMC leads with assets under management (AUM) of $1.07 billion in bitcoin and $18.17 million in ethereum.
According to data from sosovalue.xyz, the Hong Kong ETFs hold approximately 2,900 BTC, valued at around $1.96 billion at current exchange rates. This represents about 3.26% of the $60.01 billion in BTC held by U.S. spot ETFs. Notably, Hong Kong’s spot ether ETFs are already trading, a milestone the U.S. has yet to achieve.
While the U.S. anticipates the approval of several spot ether ETFs, Hong Kong’s AMC China, Bosera & Hashkey, and Harvest have so far secured $26.74 million in ethereum. Consequently, the Hong Kong ETFs currently hold around 7,640 ETH since they began trading 44 days ago.
Despite the anticipated influx of mainland Chinese investors into Hong Kong’s spot bitcoin and ether ETFs, that never happened and the reality has been more modest. While these funds have indeed garnered significant assets, at present, their scale pales in comparison to their U.S. counterparts.
What do you think about Hong Kong’s spot crypto ETFs and their performances? Share your thoughts and opinions about this subject in the comments section below.
