Bitcoin

April

Coin

<ul class="news-points">
 <li>Hong Kong Bitcoin ETFs see muted investor interest, assets drop $25 million.</li>
 <li>Trading volume lags far behind US counterparts, raising hub ambitions doubts.</li>
 <li>Analysts cite US lead &amp; China’s crypto stance as reasons for investor caution.</li>
</ul>
Hong Kong’s initial foray into Bitcoin Exchange-Traded Funds (ETFs) has met with muted investor interest, according to a recent Bloomberg <a href="https://www.businesstimes.com.sg/international/hong-kongs-shaky-crypto-etf-debuts-dent-global-hub-aspirations" target="_blank" rel="noopener noreferrer nofollow">report</a>. The total assets under management for the six ETFs launched in late April have fallen by roughly $25 million, down from an initial value of $293 million.
These figures fall short of the rosy predictions made by some Hong Kong asset managers. Prior to the launch, ChinaAMC executive Zhu Haokang anticipated that Hong Kong’s ETFs would <a href="https://coinedition.com/bitcoins-downturn-impacts-hong-kongs-etf-market/" rel="noopener noreferrer nofollow">surpass</a> those in the U.S. in terms of initial listing size.
However, the reality proved significantly different. The total trading volume of Hong Kong’s ETFs on their first day was only 87.58 million Hong Kong dollars (roughly $12 million), a far cry from the $4.6 billion seen for US Bitcoin ETFs on their launch day. Analysts attribute this disparity to Hong Kong’s smaller financial sector and limited pool of investors compared to the U.S.
The post <a href="https://coinedition.com/hong-kong-crypto-hub-ambitions-stalled-by-weak-etf-demand/" rel="noopener noreferrer nofollow">Hong Kong Crypto Hub Ambitions Stalled by Weak ETF Demand</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Hong Kong Crypto Hub Ambitions Stalled by Weak ETF Demand

Coin Edition

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