Hong Kong Asset Managers Buy $112M Worth of US #Bitcoin ETFs

In what is certainly an interesting development, Hong Kong-based asset managers reported purchasing $112 million worth of US Spot Bitcoin ETFs. Specifically, data shows that Yong Rong Asset Management had purchased $38 worth of BlackRock’s iShares Bitcoin Trust (IBIT).

Additionally, Ovata Capital Management, also based in Hong Kong, has filings showing investment in four other Spot Bitcoin ETFs with a value of more than $74 million. Moreover, the development is an interesting one considering the presence of these BTC investment offerings in Hong Kong as of April.