PANews reported on May 1 that according to the Shanghai Securities News, the first batch of spot cryptocurrency ETFs under China Asset Management (Hong Kong), Bosera Funds (International), and Harvest Global Asset Management officially landed on the Hong Kong Stock Exchange. Overall, the first batch of spot cryptocurrency ETFs performed actively on the first day, with a transaction volume of more than HK$87 million, among which the Bitcoin ETF rose by more than 1%, stronger than the Ethereum ETF.
The reporter learned from the channel that China Asset Management (Hong Kong) has a strong momentum in its issuance. On the first day of issuance, China Asset Management Bitcoin ETF and China Asset Management Ethereum ETF raised more than HK$1.1 billion, exceeding the first-day fundraising scale of the US Bitcoin ETF. Combined with the total fundraising of the other two institutions, the fundraising scale of the first batch of cryptocurrency ETFs is about HK$2 billion. Analysts believe that Hong Kong investors have shown a strong interest in virtual assets. As the virtual asset infrastructure and ecosystem continue to improve, the asset management scale of cryptocurrency ETFs is expected to expand significantly.
Analysts believe that Hong Kong investors have shown great interest in virtual assets and are very enthusiastic about subscription. The first day of issuance of 10 Bitcoin spot ETF issuers in the United States on January 10 this year was US$125 million (approximately HK$978 million). "The fundraising scale of the first batch of spot cryptocurrency ETFs in Hong Kong far exceeds that of the first batch of products in the United States."
