đ $1.96B IN BITCOIN SECURED IN HONG KONG SPOT ETFS đŒđ
Since the launch of spot bitcoin and ethereum exchange-traded funds (ETFs) in Hong Kong on April 30, they have accumulated significant assets: $1.96 billion in bitcoin and $26.74 million in ethereum.
đ Hong Kongâs Spot Bitcoin and Ether ETFs See Modest Growth:
For the past 44 days, these ETFs, provided by AMC China, Bosera & Hashkey, and Harvest, have been the sole options available in the region. AMC China leads the pack with assets under management (AUM) of $1.07 billion in bitcoin and $18.17 million in ethereum.
Current Holdings:
Bitcoin: Approximately 2,900 BTC, valued at around $1.96 billion.
Ethereum: Around 7,640 ETH, totaling $26.74 million.
đ Comparative Analysis:
Bitcoin ETFs:
Hong Kongâs ETFs hold about 3.26% of the $60.01 billion in BTC managed by U.S. spot ETFs.
The U.S. is still awaiting the approval of several spot ether ETFs, while Hong Kongâs are already trading.
Ethereum ETFs:
Despite Hong Kong's earlier adoption, the asset size is modest compared to the vast potential in the U.S. market.
đ Market Dynamics:
Despite expectations of a significant influx of mainland Chinese investors into Hong Kongâs spot bitcoin and ether ETFs, the reality has been more subdued. While these funds have garnered substantial assets, their scale is modest compared to their U.S. counterparts.
đ Conclusion:
The growth of Hong Kongâs spot bitcoin and ether ETFs reflects a cautious yet promising start. As these ETFs continue to develop, their success may pave the way for further expansion and increased investor participation in the region.
đ What do you think about the growth of Hong Kongâs spot ETFs?
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