Hong Kong Bitcoin and Ether ETFs Have Soft Debut

The six listed crypto ETFs pushed $11 million in volume, with bitcoin ETFs posting $8.5 million in volume and ether ETFs coming in at $2.5 million. Issuers expected the initial volume to be over $100 million,

Ether ETFs are allowed in Hong Kong’s market, as regulators in the Chinese territory don’t have the same concerns about ether being a security as their counterparts in the U.S.for quite some time as the Securities and Exchange Commission won’t clearly say if they consider ether to be a security. Ether ETFs are also listed on the Toronto Stock Exchange via issuers such as Evolve and Purpose Investments.

On the first day in the U.S., total trading volume hit $655 million. Bitcoin was down over 1%, trading near $62,100, according toin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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