Hong Kong Bitcoin and Ether ETF failed to live up to expectations!

Bitcoin and Ethereum spot ETF began trading in Hong Kong, but first-day trading volumes remained far below those recorded in the United States in January 2024.

Bitcoin and Ethereum exchange mutual funds (ETF s) have finally entered Hong Kong markets, but their trading volumes have remained quite weak compared to the day their Bitcoin ETF was listed in the United States.

The total trading volume of the six new crypto ETF at the closing bell on the first day in Hong Kong was 87.58 million Hong Kong dollars ($12 million). This figure pales in comparison to the first-day trading volume of U.S. Bitcoin ETF worth $4.6 billion.

Hong Kong Bitcoin ETFThe data shared by the Hong Kong Exchange (HKEX) highlighted relatively steady performance and interest in six spot Bitcoin and Ether (ETH) ETF managed by China Asset Management, Harvest Global, Bosera and HashKey.

The Bosera HashKey Bitcoin ETF recorded HK$249,000 in first-day trading volume, while the Bosera HashKey Ether ETF generated HK$99,000 in trading volume at the closing bell.

China Asset Management (CAM) Bitcoin ETF fared much better, seeing a trading volume of HK$4.6 million. Transactions opened at HK$8,080 and closed at HK$7,950. CAM's Ether ETF recorded a trading volume of HK$4.6 million at the closing bell.

Wu Blockchain previously reported that the CAM subscription size for its spot Bitcoin and Ethereum ETF attracted $140 million in the initial offering period before trading began

HKEX has previously highlighted investors' interest in cryptocurrency futures ETF, which were first launched in late 2022. The three "VA Forward Contract ETF" achieved net inflows of $529 million in the first quarter of 2024, adding to the excitement surrounding the launch of spot BTC. and their ETH ETF on April 30.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.