The funds were withdrawn from the AMC fund, whose provider is China Asset Management. The remaining two funds have not yet experienced any outflow of funds. AMC is now the local market leader by asset volume with 2,020 Bitcoins.
Spot ETH-ETFs continue to see inflows reaching 999.75 ETH. The funds went to the Bosera HashKey Ether ETF.
All of these funds entered the Hong Kong market on April 30, when local authorities allowed the start of trading in units of spot Bitcoin ETFs. On the first day of trading, transaction volumes amounted to only $12 million. The issuers were China Asset Management, Harvest Global, Bosera and HashKey.
In addition to Hong Kong residents, the instruments are available to any qualified non-resident investors. But only after completing the KYC (Know Your Customer) procedure. Mainland Chinese investors are not yet able to invest in this new category of investment products.
Earlier, Richard Byworth, managing partner of the SyzCapital investment fund, said that units of Hong Kong-registered spot Bitcoin ETFs would soon be available to investors from the Chinese mainland.
