Ethereum

Foresight

Bitcoin

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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Hong Kong startsed trading 6 Bitcoin and Ethereum ETFs, recording approximately $6.3 million during the morning session.</li> 
 <li>Non-Hong Kong residents can also subscribe/purchase ETFs as long as they meet local regulatory requirements.</li> 
</ul> 
Hong Kong started trading six Bitcoin and Ethereum ETFs this morning. The crypto products recorded a trading volume of about $6.3 million during the morning session, according to data from the Hong Kong Stock Exchange. 
<a href="https://www.hkex.com.hk/Market-Data/Securities-Prices/Exchange-Traded-Products/Exchange-Traded-Products-Quote?sym=3008&amp;sc_lang=en" rel="nofollow noopener" target="_blank">HKEX data</a> shows that China Asset Management’s “ChinaAMC Bitcoin ETF” was the leader in trading volume, seeing HK$22.97 million during the first half of the day. The ChinaAMC Ethereum ETF recorded the second-largest turnover among the six ETFs, with a volume of HK$10.47 million. 
The six BTC and ETH ETFs that debuted today in Hong Kong are managed by China Asset Management, Harvest Global, Bosera, and HashKey. 
Harvest recorded HK$8.11 million ($1.04 million) in BTC ETF’s volume and HK$2.18 million ($279,000) in ETH ETFs. Bosera HashKey BTC ETFs saw HK$3.59 million ($460,000), and their ETH ETF recorded HK$1.53 million ($196,000). 
In comparison, when the US’s 11 BTC ETFs began trading back in January, the first-day volume reached approximately $4.6 billion. 
China Asset Management stated that the size of its subscription during the initial offering period before trading was about HK$1.1 billion ($140.5 million), and the Bitcoin product witnessed HK$950 million ($121,6 million). Their ETH ETF brought in HK$160 million ($20,2 million). 
Non Hong-Kong residents can also subscribe or purchase ETF products with the condition that they meet regulatory requirements and pass customer due diligence, according to WuBlockchain. 
The CEO of Harvest Global Investment said, “it’s going to start slow at the beginning, then we are going to the moon.” 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 Hong Kong <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1ed-1f1f0.png" alt="🇭🇰" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a> and Ethereum ETF kicks off. Trade volume was less than $7 million. Crypto market didn't pump as expected. 
 CEO of Harvest Global Investment says "Its going to start slow at the beginning, then we going to moon" <a href="https://t.co/ugD4ajVRE3" rel="nofollow" target="_blank">pic.twitter.com/ugD4ajVRE3</a> 
 — Panda of Asia Streets (@PandaAsiaStreet) <a href="https://twitter.com/PandaAsiaStreet/status/1785206048510575078?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="hong-kong-etf-predictions">Hong Kong ETF predictions</h2> 
The other day, China AMC Limited held a press briefing on “Asia Premiere – Spot ChinaAMC Bitcoin ETF and Spot ChinaAMC Ethereum ETF.” Foresight News&nbsp;was at the meeting and revealed important details. 
In this press briefing, Zhu Haokang, head of digital asset management and family wealth of China Asset Management (Hong Kong). He stated that he’s very confident that the trading scale of the Hong Kong crypto ETFs on the first day of listing <a href="https://crypto.ro/en/news/hong-kongs-bitcoin-and-ethereum-etfs-to-exceed-1st-day-of-us-etfs-of-125-m-inflow/">could exceed</a> the trading scale of the first day of BTC ETF listing in the US, meaning $125 million. 
The Hong Kong move tests its<a href="https://crypto.ro/en/news/hong-kongs-bitcoin-and-ethereum-etfs-trading-confirmed-to-start-on-april-30/"> crypto hub ambition</a>, as noted by Bloomberg not too long ago.

Hong Kong’s Bitcoin And Ethereum ETFs Start Trading For Eligible Investors

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