Key Points
- Hong Kong’s six new Bitcoin and Ether ETFs recorded a trading volume of around $6.3 million on their debut day.
- China Asset Management’s Bitcoin and Ether ETFs led in trading volume, with respective turnovers of approximately $2.94 million and $1.34 million.
Hong Kong’s market has seen the debut of six new exchange-traded funds (ETFs) focused on Bitcoin and Ether. On their first trading day, these ETFs recorded a trading volume of approximately $6.3 million during the morning session. This data was provided by the Hong Kong Stock Exchange.
Leading ETFs
The ETFs managed by China Asset Management, namely the “ChinaAMC Bitcoin ETF” and the “ChinaAMC Ether ETF”, led the pack in trading volume. The Bitcoin ETF logged a turnover of around $2.94 million during the first half of the trading day, while the Ether ETF recorded a turnover of approximately $1.34 million.
These six ETFs, managed by China Asset Management, Harvest Global, Bosera, and HashKey, officially launched in Hong Kong. Harvest reported a volume of about $1.04 million and $279,000 for its Bitcoin and Ether ETFs respectively. Meanwhile, the Bosera HashKey Bitcoin ETF recorded a volume of around $460,000 and its Ether ETF logged a volume of about $196,000 during the morning session.
Comparison with US ETFs
When compared to the U.S., where 11 Bitcoin ETFs started trading in January, their first-day volume reached about $4.6 billion. China Asset Management also revealed that its subscription size during the initial offering period before trading was approximately $140.5 million. This included about $121.5 million for its Bitcoin product and $20.5 million for its Ether ETF.
The subscription size was initially reported by Wu Blockchain, and later confirmed by China Asset Management.
