Ethereum

Bitcoin

Spot

James

Hong Kong’s Ethereum and Bitcoin ETFs (exchange-traded funds) recorded over HK$49.4 million ($6.3 million) in trading volume during the morning session of their Apr. 30 debut on Hong Kong Exchanges and Clearing Ltd. (HKEX).
China Asset Management’s ChinaAMC Bitcoin ETF recorded the most trading volume after it registered HK$22.97 million in activity during the first half of the trading day, HKEX data shows.
The asset manager’s Ether ETF was the second-most active fund and processed HK$10.47 million in volumes.
<img decoding="async" src="https://nairametrics.com/wp-content/uploads/2024/04/BITCOIN-HONG-KONG.jpg" alt="Hong Kong to approve Asia's first bitcoin spot ETFs in April - Nairametrics">
<h2 id="span-style-font-weight-400-hong-kong-spot-ethereum-and-bitcoin-etfs-debuted-shortly-after-approval-span">Hong Kong Spot Ethereum And Bitcoin ETFs Debuted Shortly After Approval&nbsp;</h2>
Six spot Ethereum and BTC ETFs started trading, managed by China Asset Management, <a href="https://insidebitcoins.com/news/chinas-harvest-may-be-first-fund-manager-to-launch-a-spot-bitcoin-etf-in-hong-kong-later-this-month" rel="noopener noreferrer nofollow">Harvest Global</a>, Bosera and HashKey.&nbsp;
Harvest’s Bitcoin fund, the Harvest Bitcoin Spot ETF (3439.HK), experienced HK$8.11 million in trading activity on its first day. Meanwhile, the company’s Ethereum ETF, the Harvest Ether Spot ETF (3179.HK), posted HK$2.18 million in trading volume.
Bosera and HashKey’s BTC ETF recorded HK$3.59 million in volumes during the morning hours, while their Ethereum ETF’s trading activity reached HK$1.53 million.
Qualified investors outside of Hong Kong can also buy the funds, though investors in China are still restricted from buying into the products.
<h2 id="span-style-font-weight-400-first-time-bitcoin-etfs-will-compete-with-eth-etfs-span">First Time Bitcoin ETFs Will Compete With ETH ETFs</h2>
<a href="https://insidebitcoins.com/news/bitcoin-etfs-will-be-lucky-to-raise-500m-in-tiny-hong-kong-market-bloomberg-etf-analyst-says" rel="noopener noreferrer nofollow">Bloomberg ETF analyst</a> Eric Balchunas notes that Hong Kong will provide the first test of how popular Ethereum ETFs are relative to BTC ETFs.
He estimates that ETH ETFs will will grab only 10% or less of the Bitcoin flows, whereas he says colleague James Seyffart is more optimistic on the prospects for Ethereum ETFs.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Note also that this is the first time we will get clean look at how popular Eth is relative to btc in ETF format. What % of the net flows do you think they will grab? I think 10% or less, James more optimistic. <a href="https://t.co/ZKggtAGQIH" rel="noopener noreferrer nofollow">https://t.co/ZKggtAGQIH</a>
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1785085007398080989?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye/" rel="noopener noreferrer nofollow">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/australian-securities-exchange-gears-up-to-list-spot-bitcoin-etfs-this-year" rel="noopener noreferrer nofollow">Australian Securities Exchange Gears Up To List Spot Bitcoin ETFs This Year</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/investor-surge-as-wienerai-presale-tops-600k-with-advanced-ai-features-could-this-be-the-next-gen-dog-meme-coin" rel="noopener noreferrer nofollow">Investor Surge as WienerAI Presale Tops $600K with Advanced AI Features – Could This Be the Next-Gen Dog Meme Coin?</a></li>
</ul>

Hong Kong Spot Bitcoin And Ethereum ETFs Chalk Up $6.3M In Volume During Debut Morning Session

Table of Contents

Inside Bitcoins

Other articles published on Apr 30, 2024

Cilinix Crypto Reviews 5th Scape, an AR/VR Gaming Platform Approaching $6 Million in Presales

Ripple and HashKey DX forge new alliance to target Japanese market

Ripple’s Latest Partnership Triggers Bullish Price Predictions of $10 Per XRP From Popular Crypto...

Professional trader warns of ‘catastrophic’ market crash and crypto lows

MicroStrategy News: Q1 Financial Update, Bitcoin Holdings & More

Is It Too Late To Buy HNT? Helium Price Surges 12% As Experts Say This Dogecoin Derivative Might ...

Join our free newsletter for daily crypto updates!