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Hong Kong ETFs See Reduced Bitcoin Inflows

The three spot Bitcoin exchange-traded funds (ETFs) in Hong Kong experienced a decrease in inflows on the second trading day, with 174.73 BTC ($10.3 million) compared to the 3,910 BTC ($240 million) recorded on the first day.

Despite this, trading volume remained steady at over $9.7 million on both days. SoSoValue clarified that ETF shares obtained through in-kind subscriptions of physical Bitcoin do not contribute to cash inflows in dollar terms, and they use the BTC inflow metric to measure actual Bitcoin flow.

As of Thursday, the three ETFs collectively held around 4,000 BTC, with total net assets slightly decreasing to $235.7 million from $247.7 million on the first day. Notably, May 1 was a public holiday in Hong Kong.

Among the three spot Bitcoin ETFs, ChinaAMC Bitcoin ETF had the largest net assets, followed by Harvest’s ETF and the Bosera HashKey Bitcoin ETF.

In contrast, spot Bitcoin ETFs in the U.S. saw a net outflow of $34.4 million on Thursday, following record-high outflows of $563.7 million the day before.

Image Credit: Shutterstock

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Hong Kong ETFs See Reduced Bitcoin Inflows

was first posted on May 3, 2024 at 11:31 pm.
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