Categories: Trending now

Hong Kong Bitcoin ETFs Hits HK $2 Billion in AUM

The three spot Bitcoin exchange-traded funds (ETFs) in Hong Kong have surpassed HK$2 billion (around $272 million) in assets under management since launching earlier this year.

AD

The milestone comes just months after Hong Kong approved its first spot bitcoin ETFs, following similar moves in the U.S. and Europe. The ETFs provide exposure to Bitcoin prices without directly owning Bitcoin.

While volumes have been slower than U.S. Bitcoin ETFs, assets under management have steadily climbed. This suggests a growing institutional appetite for regulated Bitcoin products in Asia.

AD

The ChinaAMC Bitcoin ETF is the largest of the Hong Kong Bitcoin ETFs, with over $142 million in net assets. Bosera Hashkey’s Bitcoin ETF comes next with around $99 million in holdings, followed by Harvest Bitcoin ETF with $31 million. Together, the total Bitcoin holdings across the three Hong Kong ETFs stand at approximately 4,450 BTC, worth $272 million at current prices.

Industry observers believe innovations like the ETFs’ redemption method could attract more capital over time. The Hong Kong products allow for in-kind redemptions using actual Bitcoin, unlike cash-only U.S. ETFs.

- Advertisement -

The growth indicates increasing Bitcoin adoption by institutional investors in Asia. If interest in Hong Kong’s spot Bitcoin ETFs continues at the current pace, they could emerge as a significant regional pool of Bitcoin demand.

AD

Other Asian countries, such as Singapore, Malaysia, and South Korea, are also in the pipeline to launch spot Bitcoin ETFs. This could further integrate Bitcoin within mainstream finance across the continent.

News Today

Share
Published by
News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

2 weeks ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

2 weeks ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

2 weeks ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

2 weeks ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

2 weeks ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

2 weeks ago