•Hong Kong Bitcoin and Ether ETFs Garner over $200M on Launch Day 💵
According to Cointelegraph: Hong Kong Debuts Bitcoin and Ether ETFs, Drawing Over $200M on Day One
In a promising turn of events, Hong Kong's inaugural spot Bitcoin and Ether exchange-traded funds (ETFs) have obtained more than $200 million in assets on their April 30 debut.
From Arkham Intelligence's data, Bosera HashKey's spot Bitcoin and Ether ETFs gathered 964 Bitcoin and 4,290 Ether respectively, summing to $71.94 million in assets under management (AUM). Additionally, Bloomberg's senior ETF analyst, Eric Balchunas, reported that ChinaAMC's spot Bitcoin and Ether ETFs have garnered AUM totalling $123.61 million.
Unfortunately, these figures fall short compared to their US counterparts, which attracted nearly $4 billion in AUM within their inaugural week and $4.5 billion in volume on their first trading day, January 12.
Nevertheless, Balchunas puts the launch into context, stating, "That said, if you localize numbers, this was BIG: e.g., ChinaAMC bitcoin ETF took in $123 million on Day One, which already ranks it 6th of 82 ETFs launched in past 3yrs in HK and Top 20% overall."
The local enthusiasm is reflected in a survey by crypto exchange OSL, which revealed that 76.9% of crypto-literate respondents in Hong Kong intend to invest in these new spot Bitcoin and Ether ETFs.
Despite the robust response, these ETFs remain exclusively accessible to the 6.4 million adult residents of Hong Kong. Mainland Chinese investors, numbering over a billion, are currently denied access unless they possess a Hong Kong residence permit. 💵
~Source: Binance News