Bitcoin ETF

Bitcoin

Spot

In a notable contrast to Western markets, Hong Kong investors are showing increased interest in Bitcoin ETFs despite the current market downturn. This divergence highlights a growing East-West divide in <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> investment strategies. While U.S. spot Bitcoin ETFs are experiencing outflows, Hong Kong-based investors are viewing the market lows as an opportunity to boost their Bitcoin holdings through ETFs. 
<h2 id="hong-kong-etfs-increase-bitcoin-holdings">Hong Kong ETFs Increase Bitcoin Holdings</h2> 
Recent data shared by HODL15Capital on social media platforms reveals that <a href="https://coingape.com/tag/hong-kong-bitcoin-etfs/" target="_blank" rel="noopener">Hong Kong Bitcoin ETFs</a> are actively pursuing a “buy the dip” strategy. As of June 24, three spot Bitcoin exchanges in Hong Kong collectively held approximately 3,911 bitcoins, marking an increase of about 69 bitcoins from the 3,842 held just three days earlier on June 21. 
<img decoding="async" class="aligncenter size-full wp-image-204309" src="https://coingape.com/wp-content/uploads/2024/06/hong-kong.jpeg" alt="" width="2048" height="550" srcset="https://coingape.com/wp-content/uploads/2024/06/hong-kong.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/06/hong-kong-300x81.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/hong-kong-1224x329.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/hong-kong-768x206.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/hong-kong-1536x413.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/06/hong-kong-150x40.jpeg 150w" sizes="(max-width: 2048px) 100vw, 2048px"> 
This accumulation during a market downturn demonstrates a bullish sentiment among Hong Kong institutional investors. The decision to increase Bitcoin holdings, even if modest in percentage terms, signals confidence in Bitcoin’s long-term prospects. 
By accumulating more <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin</a> at lower prices, these funds are strategically positioning themselves for potential future gains in the event of a market recovery. This approach stands in stark contrast to some other markets where investors might be more hesitant during downturns, highlighting the growing influence of Asian markets in the global cryptocurrency landscape. 
Also Read: <a href="https://coingape.com/solana-new-features-power-on-chain-transactions-across-the-entire-web/" target="_blank" rel="noopener">Solana’s New Features Power On-Chain Transactions Across The Entire Web</a> 
<h2 id="u-s-spot-bitcoin-etfs-face-continued-outflows">U.S. Spot Bitcoin ETFs Face Continued Outflows</h2> 
In contrast to the Hong Kong market, U.S. <a href="https://coingape.com/tag/spot-bitcoin-etfs/" target="_blank" rel="noopener">spot Bitcoin ETFs</a> are experiencing significant outflows. The week began with $545 million in outflows, indicating a cooling of investor enthusiasm. Grayscale Bitcoin ETF (GBTC) recorded the largest outflows at $90.4 million on Monday, bringing its total outflows since inception close to $18.5 billion, according to data from Farside Investors. 
Fidelity’s FBTC was the second-hardest hit, with $35 million in outflows on Monday. FBTC has been seeing consistent outflows since mid-June, with its Assets Under Management (AUM) dropping below $10 billion. While several other Bitcoin ETFs have also registered outflows, it’s worth noting that BlackRock’s IBIT has not recorded a single outflow since its inception, although it has recently experienced multiple instances of zero inflows. 
Also Read: <a href="https://coingape.com/usdt-goes-retail-tether-partners-with-uquid-to-launch-1usdt-store/" target="_blank" rel="noopener">USDT Goes Retail: Tether Partners With Uquid to Launch 1USDT Store</a> 
The post <a href="https://coingape.com/hong-kong-etf-investors-buying-bitcoin-as-us-spot-bitcoin-etfs-record-outflow/">Hong Kong ETF Investors Buying Bitcoin As US Spot Bitcoin ETFs Record Outflow</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Hong Kong ETF Investors Buying Bitcoin As US Spot Bitcoin ETFs Record Outflow

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Ďalšie články zverejnené 25. 6. 2024

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