Hong Kong has recently been approved as a Hong Kong Bitcoin spot ETFs The volume of trading was relatively low on the first day. Hong Kong Securities and Futures Commission has approved 6 spot Bitcoin and Ethereum Exchange Traded Funds (ETFs) in total last week.
NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs👏 pic.twitter.com/ux1eb5PqRn
— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024
Today, three Bitcoin ETFs became available: the ChinaAMC Bitcoin ETF; Harvest Bitcoin ETF; and Bosera HashKey Bitcoin ETF.
Despite all the hype surrounding the launch of the Hong Kong Bitcoin Exchange Traded Funds, trading volumes for the initial trading day were modest at $8.5 (HK$67) million.
To break down individual Bitcoin ETF volumes, ChinaAMC Bitcoin ETF topped the charts with HK$37.16million, followed by Harvest Bitcoin ETF at $17.89million, and Bosera HashKey Bitcoin ETF, which saw HK$12.44million in trade.
According to data from, the combined Bitcoin and Ethereum ETF volume on that day was HK$87.58million dollars ($12million). Hong Kong Stock Exchange.
The trading volume may be low in comparison to U.S. Bitcoin spot ETFs which had a trading volume of $4.6 Billion on their very first day. However, the industry remains optimistic regarding the future prospects for these products in Hong Kong.
Samson Mow founder of JAN3 expressed his belief These ETFs are likely to be successful in the end, even if the first trading day was low.
“Bitcoin ETFs in HK are going to be big. Maybe not on day 1 or 2, but the long term implications are massive. There is really nothing else for Chinese investors to put their money into at this time.”
In the future, it is hoped that Bitcoin ETFs launched in Hong Kong will bring in more institutional investors to help mainstream Bitcoin adoption in the area.
Hong Kong could become a major player in Asia’s future Bitcoin market as the Bitcoin landscape in general continues to change.
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Source: bitcoinmagazine.com