Hong Kong’s new Bitcoin and Ether exchange-traded funds (ETFs) have seen significant interest, amassing over $200 million in total assets since their launch on April 30. According to data from Arkham Intelligence, the Bosera HashKey ETFs have accumulated 964 Bitcoin (BTC) and 4,290 Ether (ETH), totaling $71.94 million in assets. ChinaAMC’s ETFs, on the other hand, have attracted combined assets of $123.61 million, according to Eric Balchunas, a senior ETF analyst at Bloomberg. Harvest Global, the third ETF issuer, has not yet updated its asset management data. However, the two existing ETFs have recorded a combined turnover of $23 million. While these figures are impressive, they pale in comparison to the United States, where Bitcoin ETFs attracted nearly $4 billion in assets during their first week and recorded $4.5 billion in volume on the first day of trading. Despite lower numbers in Hong Kong, Balchunas still considers the launch a success, noting that ChinaAMC’s bitcoin ETF ranks 6th out of 82 ETFs launched in the past three years in Hong Kong and in the top 20% overall. Notably, Hong Kong’s ETFs allow non-Hong Kong nationals to invest if they meet local regulatory requirements, and investors can subscribe for ETF units directly using Bitcoin and Ether, which is not an option for their US counterparts. A recent survey by Hong Kong-regulated crypto exchange OSL found that 76.9% of crypto-knowledgeable respondents in the city plan to invest in these new ETFs, highlighting the growing acceptance and importance of digital assets in the region’s economy. However, it’s worth noting that these ETFs are currently only accessible to Hong Kong residents and not mainland Chinese investors unless they possess a Hong Kong residence permit.
First day sees over $200M invested in Hong Kong Bitcoin and Ether ETFs.