Bitcoin

April

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Hong Kong’s spot bitcoin ETFs experienced their first outflows, exclusively from China Asset Management’s ETF.</li>
 <li>The three ETFs managed by ChinaAMC, Harvest, and both Bosera and HashKey held about 4,150 bitcoins as of Monday.</li>
</ul>
<p>Hong Kong’s spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs) had their first cumulative daily bitcoin outflows recorded on Monday.</p>
<p>The outflows were solely from the ETF managed by China Asset Management, which debuted on the Hong Kong Stock Exchange on April 30.</p>
<h2 id="bitcoin-outflows-and-inflows">Bitcoin Outflows and Inflows</h2>
<p>The ChinaAMC spot bitcoin ETF saw an outflow of 75.36 bitcoins on Monday, while the other two ETFs saw no inflows.</p>
<p>This happened after the three funds recorded an inflow of 3,910 bitcoins on their first trading day, as per data from SosoValue.</p>
<p>SosoValue clarified that its data does not include ETF shares bought via in-kind subscriptions of “physical bitcoins” as these do not generate cash inflows in dollar terms.</p>
<p>Instead, the firm uses a bitcoin-inflow metric to measure how many bitcoins actually flowed into or out of all ETFs on a specific trading day.</p>
<h2 id="etfs-bitcoin-holdings">ETFs’ Bitcoin Holdings</h2>
<p>As of Monday, the three ETFs managed by ChinaAMC, Harvest, and both Bosera and HashKey held about 4,150 bitcoins.</p>
<p>Their total net assets amounted to $266.8 million, up from $247.7 million on the first day.</p>
<p>Farside Investors’ data showed similar results, indicating that ChinaAMC’s spot bitcoin ETF saw an outflow of $4.9 million on Monday, while the other two saw no inflows.</p>
<p>The total trading volume for the three ETFs reached $8.6 million on Monday, up from $8.01 million the previous Friday.</p>
<p>In contrast, spot bitcoin ETFs in the U.S. saw a net inflow of $217.06 million on Monday, with Grayscale’s GBTC fund recording its second daily net inflow.</p>

Hong Kong’s Bitcoin ETFs Experience First Withdrawals: ChinaAMC Leads the Exodus

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