How are Hong Kong Spot Bitcoin and Ethereum ETFs doing? The indicators are still weak. No match for the American market.
The first day was initially called almost a failure. Then it turned out that Hong Kong crypto ETFs raised $292 million on the first day of trading, not $12 million, and this did not immediately become known because it was the initial capital. And it was brought in before the bidding began.
BUT it turned out that this was only a starting breakthrough. And the pace of subsequent growth can hardly be called rapid. Inflows and outflows range from +$8 million to -$5.5 million per day. It is not surprising that local investment companies are investing in US crypto ETFs. The total flow into Hong Kong ETFs (including initial capital) is now $268 million, analyst and crypto blogger Sinz đïžâĄ 21st.Capital calculated.
It turns out that hope lies in the capital of mainland China. Which entry into Hong Kong crypto-ETFs is closed for now. The CEO of one of the Bitcoin ETF issuers in Hong Kong, Harvest Global Investments, expects to apply to join the Shanghai-Hong Kong Stock Connect program, connecting the Shanghai and Hong Kong stock exchanges.
But for now these are just âwishlistâ ideas. And the immediate prospect for Hong Kong issuers is that there will be no tangible demand for#BTCand#ETHfrom them.
