Cryptocurrency-focused venture capital organizations LD Capital and Antalpha Ventures, alongside investment portfolio management services provider Highblock Limited, launched a $128 million Hong Kong exchange-traded fund (ETF) Liquidity Fund. The initiative seeks to bolster market-making services for Hong Kong ETFs, fostering increased liquidity, optimizing capital flow efficiency, and eliminating risks associated with liquidity and trading fluctuations.
LD Capital prioritizes primary and secondary blockchain investments, boasting a diverse portfolio of nearly 300 blockchain companies. Meanwhile, Antalpha Ventures, which specializes in offering quantitative trading and investment portfolio management services, will bring its wide expertise. Highblock Limited holds a Hong Kong license for digital asset quantitative trading and delivers such services alongside investment portfolio management.
The Hong Kong ETFs, consisting of six funds encompassing China Asset Management, Harvest Global, Bosera and HashKey Bitcoin spot ETFs, and Ethereum spot ETFs, received approval from the Hong Kong regulator last month and were subsequently launched on April 30th.
Hong Kong spot Bitcoin ETFs Experience Outflows, China Asset Management Leads With 75.36 BTC Exiting
Earlier this week, the ETFs witnessed the initial Bitcoin outflows, exclusively attributed to China Asset Management’s spot Bitcoin ETF, which observed 75.36 BTC exiting, whereas the remaining two ETFs reported no inflows. This development followed the three funds’ initial trading day, during which they collectively recorded an inflow of 3,910 BTC, as per data from SosoValue.
Additionally, the trading volume for the three Bitcoin investment products totaled $8.6 million, showing a slight decrease from the $9.74 million recorded on April 30th. As for the three Ethereum ETFs, they registered a trading volume of $1.8 million, registering a decrease from the initial $2.99 million.
Recently, cryptocurrency market maker Wintermute also unveiled intentions to offer liquidity support to sub-custodians for Hong Kong spot cryptocurrency ETFs, OSL and HashKey, for their investment offerings, aiming to facilitate the processes of buying, selling, and delivering underlying BTC and ETH for the spot ETFs.
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