According to Bloomberg ETF analyst Eric Bartunas, leading Hong Kong asset manager Yong Rong Asset Management has invested heavily in the Bitcoin Spot ETF. The company acquired the IBIT Bitcoin Spot ETF for $38 million and it now accounts for 12% of its assets.
Bartunas said the move is particularly notable given that Hong Kong has its own #ETF . However, U. S. ETFs continue to attract international investors due to their attractive combination of low fees and high trading volumes.
According to Bartunas, Yongrong's portfolio is diversified, with NVIDIA, Meta, #Tesla and #bitcoin as its four main holdings. While Yong Rong's US$30 million investment in one IBIT ETF is significant, another Hong Kong-based company, Ovata, is the largest investor to date with a total of US$ 74 million in four spot #CryptoWatchMay2024 ETFs.
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