- Hong Kong ETFs face challenges in matching the scale and dominance of US counterparts.
- Analysts project moderate inflows for Hong Kong’s ETFs, cautioning against unrealistic expectations.
- Hong Kong’s spot ETFs for virtual assets surged on May 3, led by Bitcoin ETFs with HK$43.41 million in trading volume.
The Hong Kong market reported an increase in trading volumes for spot ETFs associated with virtual assets on May 3. The overall trading volume came to HK$48.91 million, with Ethereum ETFs coming in second at HK$5.5 million and Bitcoin ETFs dominating at HK$43.41 million. On May 2, for instance, trading volume for US Bitcoin spot ETFs reached an astounding $1.72 billion, indicating a notable divergence in market activity.
As of the close on May 3, the total trading volume of six Hong Kong spot ETFs for virtual assets was HK$48.91 million, approximately US$6.26 million. Among them, the trading volume of the Bitcoin ETF was HK$43.41 million, and that of the Ethereum ETF was HK$5.5 million. In…— Wu Blockchain (@WuBlockchain) May 3, 2024
The approval of spot Ethereum and Bitcoin ETFs by the Hong Kong Securities and Futures Commission (SFC) has generated e…
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