|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Hong Kong Spot Bitcoin ETFs See Modest Inflows on Second Trading Day
May 05, 2024 at 09:16 pm
Hong Kong's three spot Bitcoin ETFs witnessed BTC inflows of 174.73 ($10.3 million) on their second trading day, following an influx of 3,910 BTC ($240 million) on the debut day. However, in-kind subscriptions using actual Bitcoin do not contribute to dollar-denominated inflows, leading to a focus on BTC influx measures instead.
Hong Kong's Spot Bitcoin ETFs Experience Modest Inflows
Hong Kong's three spot bitcoin exchange-traded funds (ETFs) witnessed a notable inflow of 174.73 BTC (approximately $10.3 million) on their second trading day, following a surge of 3,910 BTC ($240 million) on the inaugural trading day. The daily trading volume averaged over $9.7 million, according to data from SoSoValue.
However, it is important to note that the inflow data does not fully capture the actual influx of funds. As per SoSoValue's clarification, ETF shares purchased through in-kind subscriptions of physical Bitcoin do not generate cash inflows denominated in dollar terms and are therefore excluded from the daily net inflow statistics. To address this, the firm utilizes a BTC inflow metric, which measures the net amount of bitcoin flowing into or out of all ETFs on a specific trading day.
As of Thursday, the three ETFs managed by China Asset Management (ChinaAMC), Harvest, Bosera, and HashKey collectively held approximately 4,000 BTC. Their net asset values declined slightly to $235.7 million from $247.7 million recorded on the first trading day. It is worth noting that May 1st was a public holiday in Hong Kong, and markets remained closed.
Among the three ETFs, ChinaAMC Bitcoin ETF emerged as the largest, holding approximately $115.6 million in net assets as of Thursday. Harvest's ETF had approximately $62.4 million, while the Bosera HashKey Bitcoin ETF held around $57.7 million.
In contrast to Hong Kong's positive performance, spot bitcoin ETFs in the United States experienced a net outflow of $34.4 million on Thursday, following record-high outflows of $563.7 million the previous day.
Disclaimer:
The Block adheres to its commitment as an independent media outlet, providing unbiased news, research, and data. As of November 2023, Foresight Ventures holds a majority stake in The Block. Foresight Ventures maintains investments in various entities within the crypto industry, including the crypto exchange Bitget, which serves as an anchor LP for Foresight Ventures.
Despite these financial connections, The Block retains its editorial independence, delivering objective, impactful, and timely news and insights on the crypto sector. This disclosure statement serves to provide readers with a transparent understanding of The Block's financial arrangements.
© 2023 The Block. All Rights Reserved. This article is solely intended for informational purposes and does not constitute legal, tax, investment, financial, or other professional advice.
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.
-
- Altcoins Set to Explode: Crypto Analysts Predict Record Highs in 2024
- May 17, 2024 at 03:19 pm
- Altcoins Poised for Explosive Growth: Crypto Analysts Predict ATHs in 2024 As the cryptocurrency market exhibits optimistic indications of a sustained
-
- Embrace Meme Coins: Diversify Your Crypto Holdings with Bonk and Raboo
- May 17, 2024 at 03:19 pm
- Embrace the Meme Coin Revolution: Diversify Your Crypto Portfolio with Bonk and Raboo In the ever-evolving crypto landscape, where volatility reigns s
-
- Three Cryptocurrencies Poised for Takeoff: Toncoin, Render, and Algotech
- May 17, 2024 at 03:17 pm
- Toncoin, Render, and Algotech: The Crypto Trifecta Set to Soar In the ever-evolving crypto market, where fortunes are made and lost with lightning spe
-
- AI Cryptos Lead Surge in Crypto Market: Render, Bittensor, and Raboo Dominate
- May 17, 2024 at 03:14 pm
- The Rise of AI Cryptos: Render, Bittensor, and Raboo Lead the Charge The cryptocurrency market is experiencing a resurgence in 2024, with a particular
-
- Furrever Token Aims to Rival Success of Crypto Giants, Channeling Cuteness and Engagement
- May 17, 2024 at 03:14 pm
- Furrever Token: Poised to Emerge as a Crypto Giant, Rivaling the Success of XRP, Cardano, and Polygon In the ever-evolving digital asset landscape, a
-
- Shiba Inu and Dogwifhat Soar as Meme Coin Adoption Expands
- May 17, 2024 at 03:05 pm
- Shiba Inu and Dogwifhat Surge Amidst Wider Meme Coin Adoption Integration with Global Payment Service Shiba Inu (SHIB), the second-largest meme coin b
-
- USD Index Key to Bitcoin's Potential 127% Surge, Says Analyst
- May 17, 2024 at 03:04 pm
- US Dollar Index Holds Key to Bitcoin Price Surge, Analyst Predicts 127% Rally Acclaimed financial analyst Jamie Coutts from Real Vision has asserted t
-
- CoinGeek AMA Highlights Blockchain Innovations Ahead of London Conference
- May 17, 2024 at 03:03 pm
- CoinGeek Weekly Livestream AMA Explores Blockchain Advancements as London Blockchain Conference Nears In anticipation of the London Blockchain Confere
-
- Chainlink Poised for Surge as Technical Analysis Reveals Bullish Momentum
- May 17, 2024 at 03:02 pm
- Chainlink Poised for a Surge, Technical Analysis Reveals Strong Bullish Momentum NEW DELHI, India (CoinChapter.com) - Chainlink (LINK), the leading pr