Hong Kong spot Bitcoin and Ether ETFs struggle to gain traction

) ETFs that launched on April 30 in the East Asian City have attracted a total of $262 million in assets under management , the vast majority of which was subscribed to before the listing. Meanwhile, their asset inflows amounted to less than $14 million in the first week of launch, far below the billions that flowed into

“In our view, the launch of the Bitcoin and Ethereum ETFs in Hong Kong, is a far less significant moment that the US ETFs,” Farside Investors commented. Meanwhile, Hong Kong spot Ether ETFs, the first of their kind in the world, also did not impress, with a cumulative $54.2 million in AUM and $9.3 million in total inflows as of May 6.

The Hong Kong equities sector is a relatively small one, with a total market cap of $4.5 trillion compared to $50 trillion worth of listed equities across all U.S. exchanges. The Hong Kong equities sector is also far more illiquid due to slower economic growth in Mainland China since 2022.that nearly 80% of crypto-savvy investors in Hong Kong plan to invest in the new spot Bitcoin and Ether ETFs.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong Bitcoin and Ether ETFs Have Soft Debut; What Indonesia’s Election Means for Crypto'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as Hong Kong’s bitcoin and ether ETFs failed to lift off on their trading debut, coming dramatically under initial expectations.
Source: CoinDesk - 🏆 291. / 63 Read more »

Hong Kong Bitcoin and Ether ETFs have tough debut on first-day tradingBitcoin and Ethereum spot ETFs began trading in Hong Kong, but day-one trading volumes were a fraction of those recorded in the United States in January 2024.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Hong Kong Bitcoin and Ether ETFs Have Soft DebutThe volume of crypto exchange-traded funds came in at just over $11 million.
Source: CoinDesk - 🏆 291. / 63 Read more »

Asia's first spot bitcoin and ether ETFs debut in Hong KongHong Kong on Tuesday became the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices.
Source: CNBC - 🏆 12. / 72 Read more »

Asia's first spot bitcoin and ether ETFs debut in Hong KongHong Kong on Tuesday became the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Asia's first spot bitcoin and ether ETFs gain in Hong Kong debutSix spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday, with the three bitcoin ETFs climbing more than 3% in early trade, reflecting Asian investor enthusiasm for cryptocurrencies.
Source: Reuters - 🏆 2. / 97 Read more »