Hong Kong Bitcoin and Ether ETFs have tough debut on first-day trading

) exchange-traded funds in the United States has proved hard to follow as Hong Kong’s new Bitcoin and Ethereum ETFs hit $12 million in trading volume.

Bitcoin and Ethereum exchange-traded funds finally hit Hong Kong markets, but trading volumes suggest that the launch of Bitcoin ETFs in the United States set an exceptionally high bar to match. The six new crypto ETFs' total trading volume at the closing bell on day one in Hong Kong was 87.58 million Hong Kong dollars . This number pales in comparison to the first-day trading volume of U.S. Bitcoin ETFs, which was valued at $4.6 billion.Data shared by the Hong Kong Stock Exchange highlighted the relatively flat performance and interest in the six Bitcoin and Ether Bitcoin ETF fared far better, producing HK$4.6 million in trading volume. Trading had opened at HK$8.

Wu Blockchain had previously reported that CAM subscription size for its Bitcoin and Ethereum spot ETFs attracted $140 million during the initial offering period before trading began.investor interest in its cryptocurrency futures ETFS which were first launched in late 2022. Its three “VA Futures ETFs” attracted $529 million in net inflows in the first quarter of 2024 - which added to the hype around the launch of the spot BTC and ETH ETFs on April 30.

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