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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investor-withdrawals-impact-hong-kong-and-us-bitcoin-etfs/" data-wpel-link="internal">Investor Withdrawals Impact Hong Kong and US Bitcoin ETFs</a> 
Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) experienced net outflows for the second consecutive day on May 9. This indicates a notable shift in investor sentiment since their first trading day on April 30. A similar trend is observed in the US spot Bitcoin ETFs. 
<h2 style="text-align: justify" id="strong-90-16-bitcoins-withdrawn-from-hong-kong-s-spot-bitcoin-etfs-strong">90.16 Bitcoins Withdrawn from Hong Kong’s Spot Bitcoin ETFs</h2> 
According to data from SosoValue, approximately 90.16 BTC were withdrawn from three spot Bitcoin ETFs in Hong Kong on May 9, indicating a decline in investor interest compared to the initial trading days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349865" src="https://coin-turk.com/wp-content/uploads/2024/05/Hong-Kong-Spot-Bitcoin-ETF-Son-Durum.png" alt="" width="2904" height="782"> 
Among the three spot Bitcoin ETFs in Hong Kong, China Asset Management‘s spot Bitcoin ETF saw the largest outflow with 80.16 BTC. Bosera HashKey‘s spot Bitcoin ETF saw a smaller outflow of 10 BTC, while Harvest‘s spot Bitcoin ETF showed zero flow. This trend follows previous net inflow days recorded on May 8 and May 7, with 101.6 BTC and 99.99 BTC respectively. 
The total trading volume of the three spot Bitcoin ETFs was $2.06 million on May 9, a significant drop from the $2.67 million recorded the previous day and the $9.74 million on April 30. Despite this decrease in trading volume, the total net assets of the three spot ETFs rose to $261.45 million as of May 9. The total net assets of the ETFs were $247.7 million on their first trading day. 
Data from Farside <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Investors</a> shows that the three spot Bitcoin ETFs in Hong Kong collectively experienced a net outflow of $5.5 million on that day. This reflects a shift in investor sentiment towards these products, likely influenced by <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market conditions</a> or other external factors. 
<h2 style="text-align: justify" id="strong-us-spot-bitcoin-etfs-also-saw-withdrawals-on-the-same-day-strong">US Spot Bitcoin ETFs Also Saw Withdrawals on the Same Day</h2> 
Meanwhile, the spot Bitcoin ETFs in the US also saw a net outflow of $11.29 million on May 9, indicating a general trend of investor caution or profit-taking in the <a href="https://en.coin-turk.com/important-milestone-for-the-crypto-market-ripples-legal-battle/" data-wpel-link="internal">cryptocurrency market</a>. The simultaneous outflows in both Hong Kong and the US suggest a cautious approach among <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> in the Bitcoin ETF sector. 
In the face of these withdrawal trends, the largest cryptocurrency struggled to demonstrate strength. At the time this article was prepared, Bitcoin was trading up 2.71% in the last 24 hours at $62,991. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investor-withdrawals-impact-hong-kong-and-us-bitcoin-etfs/" data-wpel-link="internal">Investor Withdrawals Impact Hong Kong and US Bitcoin ETFs</a></h5>

Investor Withdrawals Impact Hong Kong and US Bitcoin ETFs

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