Hong Kong spot Bitcoin ETFs record net daily capital outflows for first time

On May 6, 2024, the Hong Kong spot Bitcoin ETF sector recorded net daily capital outflows for the first time. It amounted to 75.36 BTC - $4.79 million, according to SoSo Value.

The funds were withdrawn from the AMC fund, whose provider is China Asset Management.

AMC is also a leader in assets under management (AUM). The fund contained 2,020 BTC and 4,150 BTC across all three products.

It is noteworthy that in the spot Ethereum-ETF sector, on the contrary, capital inflows continue. It amounted to 999.75 ETH.

The total AUM of these funds is 17,280 ETH. Let us recall that earlier Bloomberg Intelligence analyst Eric Balchunas noted that these products will account for up to 10% of capital inflows into the sector.

Let us remind you that these funds entered the Hong Kong market on April 30, 2024. On the first day, trading volume was just over $12 million.