Crypto:
30336
Bitcoin:
$64.997
% 0.08
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 64.997
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows

Hong Kong Bitcoin Etfs

After making their debut on the Hong Kong Stock Exchange on April 30, Hong Kong’s spot bitcoin exchange-traded funds reported their first cumulative daily bitcoin outflows on Monday, originating only from China Asset Management’s exchange-traded funds.

75.36 BTC left ChinaAMC’s spot bitcoin ETF yesterday, while there were no inflows into the other two ETFs. This occurred following the three funds’ first trading day inflow of 3,910 BTC, as per SosoValue data.

The SosoValue data should be used with caution since, as the data supplier explained, ETF shares purchased through in-kind subscriptions of “physical bitcoins” do not result in cash inflows expressed in dollars and are therefore excluded from daily net inflow statistics. Rather, the company uses the bitcoin-inflow indicator, which quantifies the quantity of bitcoins that genuinely entered or exited all ETFs on a given trading day.

According to SosoValue, as of Monday, the three ETFs—managed by ChinaAMC, Harvest, Bosera, and HashKey—held roughly 4,150 bitcoins, with their total net assets rising to $266.8 million from $247.7 million on the first day. Data from Farside Investors revealed comparable outcomes. According to its dashboard, there was a $4.9 million withdrawal from ChinaAMC’s spot bitcoin ETF on Monday, but there was no inflow into the other two.

According to SosoValue statistics, the combined trading volume of the three ETFs increased to $8.6 million on Monday from $8.01 million on Friday. In the meantime, spot bitcoin ETFs in the United States saw a net inflow of $217.06 million on Monday, marking the second consecutive day of net inflows for Grayscale’s GBTC fund.

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