Key Points
- Hong Kong’s three spot Bitcoin ETFs experienced a net outflow of 25.63 BTC, with no new inflows in local Ether ETFs.
- Meanwhile, 11 spot Bitcoin ETFs in the U.S. reported the ninth consecutive day of inflows, totaling $107.91 million.
Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) reported a net outflow of 25.63 BTC.
This outflow was solely attributed to the fund managed by China Asset Management, according to data from SosoValue.
As of the same day, the combined net assets of the three spot Bitcoin ETFs were valued at $254.74 million.
Ethereum ETFs Remain Stable
On the other hand, the region’s three spot Ethereum ETFs saw no new inflows or outflows.
This stability followed a previous inflow of 62.8 ETH.
As of Thursday, the total net assets of these three products were worth $50.83 million.
U.S. Bitcoin ETFs Continue to Attract Inflows
In contrast, the U.S. reported continuous inflows into its 11 spot Bitcoin ETFs for the ninth day in a row, drawing in $107.91 million.
This occurred as the U.S. Securities and Exchange Commission approved the 19b-4 forms for eight spot Ethereum ETFs amidst changing political dynamics.
Justin d’Anethan, head of APAC business development of crypto market maker Keyrock, noted that the ETH spot ETF in Hong Kong represents about 15% of the total local spot ETF AUM, with the remaining majority allocated to Bitcoin.
He suggested that a similar ratio might be expected in the U.S. or other countries.
This could be due to the lack of staking reward offered, making the spot ETH ETFs seem like an inferior investment product compared to native tokens.
At the time of reporting, Bitcoin traded down 3% over the past 24 hours at $67,254, while Ethereum decreased by 0.51% to $3,746.
