Ethereum

United

Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Hong Kong’s new Bitcoin and Ethereum ETFs have reached $12 million in trading volume.</li>
 <li>However, this figure is significantly lower than the first-day trading volume of U.S. Bitcoin ETFs.</li>
</ul>
<p>Hong Kong recently launched exchange-traded funds (ETFs) for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>, reaching a trading volume of $12 million.</p>
<p>This, however, is dwarfed by the $4.6 billion first-day trading volume of Bitcoin ETFs in the United States.</p>
<h2 id="trading-volumes-and-performance">Trading Volumes and Performance</h2>
<p>The combined trading volume of the six new crypto ETFs in Hong Kong was 87.58 million Hong Kong dollars ($12 million) at the end of the first day.</p>
<p>Information from the Hong Kong Stock Exchange (HKEX) revealed a lackluster performance and interest in the six Bitcoin and Ether ETFs managed by China Asset Management, Harvest Global, Bosera, and HashKey.</p>
<p>The Bosera HashKey Bitcoin ETF registered a first-day trading volume of HK$249,000, while its Ether ETF generated HK$99,000 in trading volume at the closing bell.</p>
<p>The China Asset Management (CAM) Bitcoin ETF performed better, with a trading volume of HK$4.6 million.</p>
<h2 id="investor-interest-and-previous-reports">Investor Interest and Previous Reports</h2>
<p>Previous reports indicated that CAM’s subscription size for its Bitcoin and Ethereum spot ETFs attracted $140 million during the initial offering period before trading commenced.</p>
<p>HKEX had also pointed out the investor interest in its cryptocurrency futures ETFS, launched in late 2022.</p>
<p>The three “VA Futures ETFs” drew $529 million in net inflows in the first quarter of 2024, contributing to the anticipation surrounding the launch of the spot BTC and ETH ETFs on April 30.</p>

Hong Kong’s Bitcoin and Ether ETFs Face Arduous Launch Day Trading

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