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Hong Kong Spot Bitcoin and Ether ETF Raises Over USD 200 Million on Debut

Liputan6.com, Jakarta – The Hong Kong Bitcoin and Ether spot exchange-traded funds (ETF) attracted more than USD 200 million in total assets on their debut on Tuesday, April 30.

According to data provided by Arkham Intelligence, Bosera HashKey Bitcoin and Ether spot ETFs have accumulated 964 Bitcoins and 4,290 Ethers respectively, with total assets under management of USD 71.94 million. Meanwhile, senior ETF analyst at Bloomberg, Eric Balchunas, revealed that the spot Bitcoin and Ether ETF created by ChinaAMC had accumulated combined assets of USD 123.61 million.

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Launch Cointelegraph, Wednesday (1/5/2024), the Hong Kong Stock Exchange has not updated asset management data for Bitcoin and Ether spot ETFs from Harvest Global, the third ETF issuer. However, the combined turnover of these two ETFs has reached USD 23 million.

The value of the assets on demand pales in comparison to their counterparts in the United States, where spot Bitcoin ETFs attracted nearly USD 4 billion in assets under management during the first week of their debut and USD 4.5 billion in volume on January 12 alone, the first day of trading on Wall Street.

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“We are trying to warn everyone to lower expectations regarding HK… Nevertheless, if you localize the numbers, it is a great value. For example, the ChinaAMC bitcoin ETF generated USD 123 million on its first day, which already ranks it 6th out of 82 ETFs launched in the last 3 years in HK and top 20% overall,” commented Balchunas.

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Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

Hong Kong Spot Bitcoin and Ether ETF Raises Over USD 200 Million on Debut

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