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

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

The BlockThe Block2024/04/30 05:25
By:The Block

The trading volume of the newly listed spot bitcoin and ether ETFs in Hong Kong amounted to over $6.3 million during the morning session today, according to HKEX data. In comparison, when the 11 spot bitcoin ETFs began trading in the U.S. in January, their daily turnover reached about $4.6 billion on the first trading day.

Hong Kong’s spot bitcoin, ether ETFs see over $6.3 million in half-day volume upon debut image 0Hong 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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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