š£ #CryptoNews! Hong Kong's Bitcoin ETFs hit a bump in the road with their first daily BTC outflows on Monday, mainly from the China AMC Bitcoin ETF. š
š Despite this, optimism remains:
- The three HK Bitcoin ETFs have already gathered $262M in assets under management (AUM) in their first week. š°
- Bitcoin experienced a weekend surge, now trading near $64K, up from below $57K last week. š
š Perspective: Bloomberg ETF analyst Eric Balchunas reminds us not to compare HK to the US market. The $310M AUM of the HK ETFs is equivalent to $50B in the US market.
š„ A recent study shows nearly 80% of crypto-savvy investors in HK plan to invest in the new spot Bitcoin and Ethereum ETFs.
What are your thoughts on the HK ETFs? Let's chat in the comments! #DeFi #Web3 šš¬