Bitcoin ETF

Bitcoin

April

Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have surpassed 2 billion Hong Kong dollars (roughly $256 million) in assets under management (AUM).&nbsp;
The Hong Kong Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null">BTC</a>) ETFs have had a relatively slow start compared to their United States counterparts.
<a data-ct-non-breakable="null" href="https://sosovalue.xyz/zh/assets/etf/hk-btc-spot" rel="null" target="null" text="null">According</a> to data from SoSo Value, the three spot BTC ETFs in Hong Kong experienced a net inflow of approximately 247 BTC in the past week, bringing their total holdings to around 4,450 BTC. The total AUM for the ETFs now stands at around HK$2.1 billion ($269 million).
ETFs from China Asset Management and Harvest Asset Management — operated in partnership with the digital asset trading platform OSL — account for more than HK$1.3 billion ($167 million) in AUM. The third spot Bitcoin ETF, which is unaffiliated with OSL, holds HK$776 million ($99.5 million), representing about 42% of the market.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/china-hong-kong-bitcoin-etfs-halving-btc-price-rally" rel="null" target="null" text="null">'China is about to start bidding' — Will Hong Kong Bitcoin ETFs spark the halving rally?</a>
Hong Kong investors have a narrow range of options to gain exposure to BTC when compared with the 11 offerings in the US market.
<h3 id="a-slower-start-than-the-us">A slower start than the US</h3>
Despite the recent inflows, Hong Kong’s spot Bitcoin ETFs have underperformed relative to their US counterparts. When the ETFs launched on April 30, they attracted a total of $262 million of inflows <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-spot-bitcoin-ether-etfs-struggle-gain-traction" rel="null" target="null" text="null">in their first week</a>, with the majority of this figure subscribed before the listings went live.&nbsp;
Actual asset inflows during the first week were a modest $14 million, a stark contrast to the billions that flowed into <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-bitcoin-spot-etfs-see-another-record-inflow" rel="null" target="null" text="null">US spot Bitcoin ETFs</a> when they launched in January.
This disparity highlights the challenges Hong Kong faces in positioning itself as a global hub for cryptocurrency investments.&nbsp;
As noted by Bloomberg ETF analyst Rebecca Sin, the city’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-in-kind-etf-creation-significant-opportunity" rel="null" target="null" text="null">in-kind ETF creation model</a> offers a unique opportunity to increase AUM and trading volume. However, Hong Kong has yet to catch up with the US market in terms of investor interest and capital inflows.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-mt-gox-binance-hong-kong-crypto-exchanges-asia-express/" rel="" target="_self" text="null">Mt. Gox not dumping Bitcoin just yet, Hong Kong boots out crypto exchanges: Asia Express</a>

Hong Kong Bitcoin ETFs top $250M AUM

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Cointelegraph

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