Key Points
- Hong Kong’s spot bitcoin ETFs experienced their first outflows, exclusively from China Asset Management’s ETF.
- The three ETFs managed by ChinaAMC, Harvest, and both Bosera and HashKey held about 4,150 bitcoins as of Monday.
Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) had their first cumulative daily bitcoin outflows recorded on Monday.
The outflows were solely from the ETF managed by China Asset Management, which debuted on the Hong Kong Stock Exchange on April 30.
Bitcoin Outflows and Inflows
The ChinaAMC spot bitcoin ETF saw an outflow of 75.36 bitcoins on Monday, while the other two ETFs saw no inflows.
This happened after the three funds recorded an inflow of 3,910 bitcoins on their first trading day, as per data from SosoValue.
SosoValue clarified that its data does not include ETF shares bought via in-kind subscriptions of “physical bitcoins” as these do not generate cash inflows in dollar terms.
Instead, the firm uses a bitcoin-inflow metric to measure how many bitcoins actually flowed into or out of all ETFs on a specific trading day.
ETFs’ Bitcoin Holdings
As of Monday, the three ETFs managed by ChinaAMC, Harvest, and both Bosera and HashKey held about 4,150 bitcoins.
Their total net assets amounted to $266.8 million, up from $247.7 million on the first day.
Farside Investors’ data showed similar results, indicating that ChinaAMC’s spot bitcoin ETF saw an outflow of $4.9 million on Monday, while the other two saw no inflows.
The total trading volume for the three ETFs reached $8.6 million on Monday, up from $8.01 million the previous Friday.
In contrast, spot bitcoin ETFs in the U.S. saw a net inflow of $217.06 million on Monday, with Grayscale’s GBTC fund recording its second daily net inflow.
