|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Hong Kong Spot Bitcoin ETFs Face Second Consecutive Day of Net Outflows
May 10, 2024 at 08:45 pm
Hong Kong spot Bitcoin ETFs experienced net outflows for the second day, with a total of 90.16 BTC leaving the three approved funds on Thursday. This brings the ETFs' total net outflows to 165.52 BTC since their approval on April 30. The outflows were primarily driven by China Asset Management's spot Bitcoin ETF, which saw a significant outflow of over $39.5 million HKD.
Hong Kong Spot Bitcoin ETFs Experience Second Day of Net Outflows
Hong Kong's spot Bitcoin exchange-traded funds (ETFs) have endured a second consecutive day of net outflows since their highly anticipated debut on April 30. The latest data reveals a net outflow of 90.16 BTC (approximately 44.5 million Hong Kong Dollars HKD) on Thursday, following a similar outflow of 75.36 BTC on Monday. These outflows bring the total net outflows since approval to a significant 165.52 BTC.
ChinaAMC's ETF Leads Outflows
Thursday's outflow was predominantly driven by a substantial outflow from China Asset Management's spot Bitcoin ETF. The fund hemorrhaged over $39.5 million HKD after witnessing the exit of 80.16 BTC. The Bosera HashKey Bitcoin ETF also recorded a modest outflow of 10 BTC, representing approximately $4.9 million HKD.
Notably, Harvest's spot Bitcoin ETF managed to avoid any outflows during Thursday's trading session.
Inflows Reversed
The outflows on Thursday effectively eclipsed the modest inflows that the funds had experienced during the previous two days. The ETFs had witnessed net inflows of 99.99 BTC and 101.6 BTC on Tuesday and Wednesday, respectively.
Assets and Trading Volume Decline
As of Thursday, the combined holdings of the three spot Bitcoin ETFs stood at approximately 4,260 BTC, representing a combined net asset value of roughly $261.45 million. While this represents an increase from the $247.7 million in combined assets on the first day, it nevertheless indicates a modest growth trajectory.
Meanwhile, total trading volume for the three ETFs also saw a decline on Thursday, with a volume of $2.06 million. This represents a 29.6% drop from the previous day's trading volume of $2.67 million and a significant decrease from the $9.74 million recorded on April 30.
US Spot Bitcoin ETFs Also See Outflows
In a parallel trend, spot Bitcoin ETFs in the United States also experienced a net outflow of $11.29 million on Thursday.
Bitcoin Price Remains Resilient
Despite the outflows experienced by Bitcoin ETFs, the underlying asset itself has remained relatively resilient. As of Friday morning, Bitcoin was trading at $62,906, representing a 2.43% gain over the past 24 hours.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Whale Frenzy Drives Dogwifhat (WIF) to New Peaks, Forecasting Further Surge
- May 21, 2024 at 04:00 am
- Whale Frenzy Drives Dogwifhat (WIF) to New Heights, Forecasting Further Gains The cryptocurrency market has witnessed a surge in activity across multi
-
- BlockDAG Presale Rockets to $28.5 Million, Soaring Past Arbitrum's TVL and Defying Polygon's Leadership Exodus
- May 21, 2024 at 04:00 am
- BlockDAG Presale Achieves $28.5 Million, Surpassing Arbitrum's TVL and Polygon's Leadership Exodus In the rapidly evolving world of decentralized fina
-
- BlockDAG Emerges as Leading Crypto Star with Record-Breaking Presale of $28.5 Million
- May 21, 2024 at 04:00 am
- BlockDAG Emerges as a Frontrunner in the Crypto Market with $28.5 Million Presale Success BlockDAG has emerged as a formidable player in the competiti
-
- BlockDAG's Dashing Dashboard Drives Presale to $28 Million Bonanza
- May 21, 2024 at 04:00 am
- BlockDAG's Innovative Dashboard Propels Presale to Staggering $28 Million, Outpacing Market Challenges London, United Kingdom - [Date] - In the rapidl
-
- BlockDAG Rockets to Crypto Throne with $30 Price Target, Rivaling Meme Coin Supremacy
- May 21, 2024 at 04:00 am
- BlockDAG Unveils Ambitious Roadmap, Positioning Itself as a Top Meme Coin Contender In a bold move that has captured the attention of crypto investors
-
- BlockDAG Emerges as a Crypto Force, Challenging Chainlink, Flare in a Booming Market
- May 21, 2024 at 04:00 am
- BlockDAG Rises as a Promising Contender in the Crypto Landscape In the ever-evolving realm of cryptocurrencies, investors are constantly searching for
-
- Altcoins Surge as Cryptocurrency Market Soars
- May 21, 2024 at 03:57 am
- Cryptocurrency Market Surges, Altcoins Outshine Bitcoin New York, October 18, 2021 - The cryptocurrency market witnessed a significant surge on Monday
-
- MoonBag Presale Soars as Challenger to Slothana and Dogwifhat
- May 21, 2024 at 03:53 am
- MoonBag Presale Emerges as a Formidable Challenger to Slothana and Dogwifhat The cryptocurrency market has recently witnessed the explosive growth of
-
- Unveiling the Secrets of Valor Token (VALOR) Airdrops: A Navigational Masterpiece
- May 21, 2024 at 03:53 am
- Unlocking the Value of Valor Token (VALOR) Airdrops: A Comprehensive Guide Amidst the ever-evolving digital asset landscape, claiming free tokens thro