Bitcoin ETF

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Spot Bitcoin ETF products caught the attention of the crypto community with its impressive new milestone. The digital product has garnered massive momentum in Hong Kong and Australia as it sets a new record inflow.&nbsp;
This impressive feat marked a notable increase in inflows despite the considerable selloff by the German government recently. Notably, the global Bitcoin BTC ETF has regained its bullish upward trend as it totaled 1.05 million BTC.&nbsp;
<h2 id="b-hong-kong-bitcoin-etf-brings-in-massive-inflow-b">Hong Kong Bitcoin ETF Brings in Massive Inflow</h2>
Impressively, Hong Kong’s Bitcoin ETFs recorded a substantial surge in its Bitcoin stash earlier. It had totaled a whopping 4,941 BTC, marking a bullish increase of 28.6% from its previous reserve of 3,842 BTC.&nbsp;
This upward trajectory has once again boosted the market participant’s confidence in the digital asset from the massive outflow that dropped the AUM below 3,700 BTC in May.
Ever since the <a href="https://thecoinrise.com/hong-kong-considers-bitcoin-etf-could-solana-polygon-and-raboo-soar-in-the-next-month/" rel="noopener noreferrer nofollow">digital asset was launched early this year</a>, the digital asset has been thriving in Hong Kong. The city implemented favorable policies that played a pivotal role in fostering a thriving environment for the cryptocurrency industry in the region.
Notably, it was reported that the <a href="https://thecoinrise.com/hong-kong-regulators-hint-plans-to-review-crypto-rules/" rel="noopener noreferrer nofollow">crypto regulators are mulling plans to review crypto rules</a>, a move beneficiary to crypto firms operating in the region.&nbsp;
<h2 id="b-bitcoin-etf-thrives-in-australia-b">Bitcoin ETF Thrives in Australia&nbsp;</h2>
Just like Hong Kong, Australia’s Monochrome Bitcoin ETF (IBTC), has caught the eyes of market watchers as its recent net inflow of 83 BTC is almost reaching the ATH 100 BTC threshold since its inception.&nbsp;
Market participants are speculating that the news of DigitalX’s recent approval to launch the Bitcoin ETF in the country has caused this massive influx. This follows the news of the <a href="https://thecoinrise.com/australia-asx-approves-first-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">Australian Securities Exchange (ASX) Bitcoin ETF launch</a> in mid-June this year.&nbsp;
Notably, the country’s tax collector, the Australian Tax Office (ATO) had recently called out to <a href="https://thecoinrise.com/australia-doubles-down-on-crypto-tax-collection-with-data-matching-program/" rel="noopener noreferrer nofollow">investors who had benefited from the recent market surge to pay their tax dues.&nbsp;</a>
Furthermore, the United States has also experienced a strong influx of growth in its Bitcoin holdings. Recently, its Bitcoin stash totaled a staggering inflow of $1.1 billion, the highest it had seen since May.&nbsp;
Total Bitcoin holdings in the U.S. ETFs hit a record 888,607 BTC. BlackRock’s IBIT led with $121 million inflows, followed by Fidelity’s FBTC with $115 million. BlackRock’s IBIT AUM passed $18 billion, and Fidelity’s FBTC AUM neared $10 billion.
<h2 id="b-bitcoin-etfs-record-significant-inflows-amidst-germany-s-bitcoin-offloads-b">Bitcoin ETFs Record Significant Inflows Amidst Germany’s Bitcoin Offloads&nbsp;</h2>
It is quite a trick to see Bitcoin ETF thrive in the aforementioned regions despite the German government having been offloading the 50,000 BTC confiscated from a piracy film website, Movie2K.&nbsp;
These weeks-long heavy sell-offs had put pressure on BTC. It had caused the digital asset price to plummet. However, the crypto community is hoping to see the digital asset start its recovery journey soon now that Germany’s selling spree is over.
The post <a href="https://thecoinrise.com/bitcoin-etf-experience-surge-in-hong-kong-and-australia/" rel="noopener noreferrer nofollow">Bitcoin ETF Experience Surge In Hong Kong and Australia</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitcoin ETF Experience Surge In Hong Kong and Australia

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