Hong Kong’s spot bitcoin, ether ETFs see over $6.3 million in half-day volume upon debut

Hong Kong’s six new bitcoin and ether exchange-traded funds recorded a trading volume of around HK$49.4 million ($6.3 million) during the morning session on their first trading day on Tuesday, according to data from the Hong Kong Stock Exchange.

Data from the HKEX showed that China Asset Management’s “ChinaAMC Bitcoin ETF” led in trading volume, logging HK$22.97 million in turnover during the first half of the trading day. The ChinaAMC Ether ETF recorded the second-largest turnover among the six ETFs, with a volume of HK$10.47 million.

Six spot bitcoin and ether ETFs — managed by China Asset Management, Harvest Global, Bosera, and HashKey — officially debuted in Hong Kong today.

Harvest saw HK$8.11 million in its spot bitcoin ETF’s volume and HK$2.18 million in ether’s, while Bosera HashKey Bitcoin ETF recorded HK$3.59 million and its ether ETF’s volume was HK$1.53 million during the morning session.

When the U.S.’ 11 spot bitcoin ETFs began trading in January, their first-day volume reached about $4.6 billion.

Meanwhile, China Asset Management said its subscription size during the initial offering period before trading amounted to about HK$1.1 billion ($140.5 million), with its bitcoin product raking in HK$950 million and the ether ETF bringing in HK$160 million, as first noted by Wu Blockchain. China Asset Management has confirmed the amount with The Block.

Source : The Block Crypto News / Apr 30, 2024