Bitcoin ETF

Bitcoin

April

Spot

Hong Kong’s Bitcoin and Ether ETFs saw their largest-ever net $39M outflow since launching less than two weeks ago, with spot Bitcoin ETFs recording $32.7 million in net outflows, notably $15.5 million for ChinaAMC’s Bitcoin fund. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img fetchpriority="high" decoding="async" width="584" height="115" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/HK-Crypto-ETF-Flow-Table.png" alt="HK Crypto ETF Flow Table" class="wp-image-175606">
 </figure>
</div> 
Spot Ether ETFs from the same issuers had total net outflows of $6.6 million, with Harvest Global and ChinaAMC each losing $3 million. Since their April 30 launch, these funds have seen $20.9 million in total outflows, surpassing the $18.4 million in inflows recorded by May 10. 
According to <a href="https://farside.co.uk/?p=1508" target="_blank" rel="noreferrer noopener">Farside Investors</a> data, Monday marked the third consecutive day of net outflows for Hong Kong’s crypto ETFs, totaling $52.5 million since May 9. It was also the first time Harvest Global’s Bitcoin ETF saw outflows, losing $9.8 million. 
Bitcoin’s dip below $61,000, possibly linked to a post-halving slump after rewards were halved on April 20, contrasts with the larger U.S. crypto ETF market at $50 billion in assets, compared to Hong Kong’s $179.2 million. 
The substantial outflows from Hong Kong’s Bitcoin and Ether ETFs suggest investor caution amid market volatility, contrasting with the robust growth of the U.S. crypto ETF market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/08/hong-kong-spot-etfs-ease-us-outflow-in-digital-assets/" target="_blank" rel="noreferrer noopener">Hong Kong Spot ETFs Ease US Outflow in Digital Assets</a> 
</blockquote>

Hong Kong Bitcoin & Ether ETFs See $39M Outflows on May 13

The Crypto Times

Other articles published on May 14, 2024

Can Chainlink Overcome Resistance?

JUST IN! FED President Jerome Powell Speaks Live! Here are the Highlights and Bitcoin's Reaction!

Sullivan & Cromwell Denies Complicity in FTX Fraud, Seeks Lawsuit Dismissal

OKX Expands Services in Australia

Stacks Foundation Joins Uphold To Drive Bitcoin Adoption

Japan Estimates a Steep Spike in Energy Needs Due to AI and Data Centers

Join our free newsletter for daily crypto updates!