The post Hong Kong’s Bitcoin ETFs surpass HK$2 billion milestone appeared on BitcoinEthereumNews.com.

Hong Kong’s Spot Bitcoin ETFs gained 274 bitcoins, worth HK$2 billion ($15 million), reflecting rising Asian interest in regulated Bitcoin investments. The ChinaAMC Bitcoin ETF received about $15 million, marking its largest single-day inflow since July 12th. Meanwhile, the other two Hong Kong spot Bitcoin ETFs, Bosera Hashkey and Harvest, did not record any inflows on the same day. This milestone follows Hong Kong’s approval of its first three spot Bitcoin ETFs in mid-April, just three months after the U.S. launched its own ETFs tracking spot Bitcoin. Two Bitcoin ETFs emerge as market leaders A closer examination of the asset distribution reveals that two Bitcoin ETFs, managed by China Asset Management and Harvest Asset Management, have established themselves as dominant forces in the market. These ETFs, operated in collaboration with the digital asset trading platform OSL, now control an impressive HK$1.337 billion ($171.5 million) in assets. This figure accounts for over 63% of the total Bitcoin ETF market in Hong Kong. Meanwhile, the third spot Bitcoin ETF, which is not affiliated with OSL, holds HK$776 million ($99 million) in assets, representing approximately 42% of the market. OSL’s commanding position highlights investor confidence in its management and operational capabilities but also points to a relatively narrow range of options for investors in Hong Kong’s Bitcoin ETF market. The three Hong Kong spot Bitcoin ETFs manage around 4,450 bitcoins, valued at over HK$2.12 billion ($270 million).  Hong Kong Bitcoin ETFs still behind U.S. ETFs   Even with the recent gains by Hong Kong’s Bitcoin ETFs, the financial products still lag behind their United States counterparts in performance. When these ETFs launched on April 30, they initially attracted a total of $262 million in assets under management (AUM) within the first week, with most of this figure being subscribed before listing. However, the actual asset inflows…

---

Filed under: News - @ August 24, 2024 11:17 am