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At present, I know about the content of Hong Kong ETF👍
The Hong Kong Bitcoin Spot ETF holds a total of 4,343 BTC, with new holdings added almost every day, and a total fund management scale of approximately US$270 million.
Specific performance: 😀
The total trading volume of the first six crypto asset spot ETFs issued in Hong Kong was approximately HK$87.58 million (approximately US$12.7 million), far lower than the US$4.66 billion trading volume of the first-day spot Bitcoin ETF in the United States.
Why is there such a gap between Hong Kong ETF and US ETF: 🤔
1. There is a big gap in the market size between the two. Compared with the global financial center of the United States, Hong Kong's radiating range is relatively small, especially it is not open to ordinary mainland investors for the time being, resulting in a lower actual transaction volume.
2. The acceptance of cryptocurrencies is low. Traditional financial practitioners (and institutions) in Hong Kong and even Asia still have a certain gap in their understanding of cryptocurrencies compared to Europe and the United States.
3. The reason why Hong Kong’s fundraising scale is so high is due to its unique “physical subscription and redemption” mechanism, which enables many ETF investors to purchase ETFs in the form of Bitcoin and Ethereum during the new subscription period, resulting in a higher fundraising amount.
Summary: 😳
I estimate that it will take two years for Hong Kong’s virtual asset ETF market to reach the US$1 billion level.
Although the trading volume is not as good as that of the United States, in terms of proportion, the $310 million Hong Kong ETF is equivalent to the $50 billion of the US market. Therefore, the impact of Hong Kong virtual asset ETFs on its local market is as great as the impact of US spot Bitcoin ETFs on its local market.
