Is everything so bad with the Bitcoin ETF and Ethereum ETF launched in Hong Kong? From every iron now it sounds, which is VERY bad. In the style of the current “everything is lost” for the crowd in the crypto market.
Meanwhile, everything is not bad at all. Important:
1. According to #Arkham, which is already monitoring the addresses of Bitcoin and Ehereum ETF issuers in Hong Kong, on the first day only Bosera Asset Management had on its balance sheet:
- 964#BTC(worth $59 million),
- 4,290#ETH(worth $12.94 million).
The volumes are volumes, and additional demand for TOP crypto-assets has been created and assets will continue to leave the market 👌.
2.#Bloombergsenior ETF analyst Eric Balchunas is positive about the results of the first day of Hong Kong cryptocurrency ETFs and shares additional figures. He says that if we compare the scale, then if in the USA the trading volume would have been approximately $1.6 billion (in the States, in fact, the first day showed a result of $4.6 billion):
“...The US earned $740 million in assets and $4.6 billion in trade. They're well below that amount, but if you adjust for the size of their MKT, it's a different story: the equivalent of $25B+ and $1.6B respectively. For context: Bitcoin ETF China AMC is among the top 20% in this market within a day...
… As I said in earlier tweets about Hong Kong, you realize it is 1/168 US size. “What kind of ETF market is this for ants!?” Yes, that's him. However, the Hong Kong ETFs were launched at the right time as the US economy slows, so their inflows of more than $141 million more than offset slightly negative flows into the US."
