Hong Kong virtual asset ETFs traded poorly on the first day, and the market is still waiting to accept them
Li Yimei, CEO of China Asset Management, said in an interview with Bloomberg TV that the launch of Hong Kong spot Bitcoin and Ethereum ETFs has opened a new investment door for many RMB holders to seek alternative investments. Although these ETFs are currently only available to Hong Kong residents, as the opening develops, it is hoped that mainland Chinese investors will also be able to participate in the future.
However, the first-day trading data showed that the trading of Hong Kong virtual asset spot ETFs was not satisfactory. The trading volume of the six Bitcoin and Ethereum spot ETFs was only 87.58 million Hong Kong dollars (about 12 million US dollars). In contrast, the first-day trading volume of the US Bitcoin ETF was as high as 4.6 billion US dollars. Despite the unsatisfactory first-day trading data, this step still opened the door to alternative assets for Hong Kong investors.
Market observers believe that despite the low initial trading volume, the market's acceptance of such financial products will gradually increase over time. Especially considering the poor performance of China's stock market and the continued turmoil in the real estate market, China's high-net-worth individuals may seek to invest in Hong Kong's crypto asset ETFs through various channels. Therefore, despite the initial challenges, as investors' awareness and acceptance of digital assets increase, Hong Kong's virtual asset ETFs are expected to usher in more investment opportunities in the future.
The launch of the Hong Kong virtual asset ETF is an important milestone, marking the development of crypto assets in the Asian market.
