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News

Hong Kong Crypto ETFs Are Now Having A Greater Domestic Influence Than The US

May 6, 2024 - Around 2 mins mins to read

Key Points:

  • According to Bloomberg analyst Eric Balchunas, Hong Kong crypto ETFs stand out and are proportionally significant to the US market.
  • The launch of spot Bitcoin ETFs in Hong Kong on April 30 opens new doors for Asian traders.
  • Despite a slow start, the Hong Kong crypto ETF scene has gained momentum, surpassing the US in weekly inflows.
Hong Kong’s foray into the world of cryptocurrency exchange-traded funds (ETFs) has stirred both anticipation and scrutiny within the financial realm.
Hong Kong Crypto ETFs Are Now Having A Greater Domestic Influence Than The US

Hong Kong Crypto ETFs Gain Proportional Significance

Eric Balchunas, a senior analyst at Bloomberg ETF, pointed out that despite the vast difference in trading volumes between Hong Kong and the United States, the $310 million worth of Hong Kong crypto ETFs carry a proportional weight equivalent to the $50 billion US market, underlining the significance of this development in the local market.

The launch of spot Bitcoin ETFs in Hong Kong on April 30 unveiled fresh opportunities for Asian traders, though initial trading activity was tepid compared to its American counterparts. However, relative to other ETFs in Hong Kong, the crypto ETFs enjoyed a promising start.

Noteworthy players in this landscape include Harvest Global Investments Ltd. and a collaboration between HashKey Capital Ltd. and Bosera Asset Management (International) Co., which have ventured into offering Hong Kong crypto ETF services.

Hong Kong Surpasses US in Weekly Inflows for Crypto ETFs

Despite an initial slow uptake, the Asian crypto ETF scene gradually gained momentum, with Hong Kong even surpassing the US in weekly inflows amidst the turbulence stemming from the US Federal Reserve‘s policy decisions.

While some observers expressed disappointment over the modest beginnings of the Hong Kong crypto ETF launch, others remained optimistic, seeing the potential for growth and integration within the global crypto market.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Hong Kong Crypto ETFs Are Now Having A Greater Domestic Influence Than The US

Key Points:

  • According to Bloomberg analyst Eric Balchunas, Hong Kong crypto ETFs stand out and are proportionally significant to the US market.
  • The launch of spot Bitcoin ETFs in Hong Kong on April 30 opens new doors for Asian traders.
  • Despite a slow start, the Hong Kong crypto ETF scene has gained momentum, surpassing the US in weekly inflows.
Hong Kong’s foray into the world of cryptocurrency exchange-traded funds (ETFs) has stirred both anticipation and scrutiny within the financial realm.
Hong Kong Crypto ETFs Are Now Having A Greater Domestic Influence Than The US

Hong Kong Crypto ETFs Gain Proportional Significance

Eric Balchunas, a senior analyst at Bloomberg ETF, pointed out that despite the vast difference in trading volumes between Hong Kong and the United States, the $310 million worth of Hong Kong crypto ETFs carry a proportional weight equivalent to the $50 billion US market, underlining the significance of this development in the local market.

The launch of spot Bitcoin ETFs in Hong Kong on April 30 unveiled fresh opportunities for Asian traders, though initial trading activity was tepid compared to its American counterparts. However, relative to other ETFs in Hong Kong, the crypto ETFs enjoyed a promising start.

Noteworthy players in this landscape include Harvest Global Investments Ltd. and a collaboration between HashKey Capital Ltd. and Bosera Asset Management (International) Co., which have ventured into offering Hong Kong crypto ETF services.

Hong Kong Surpasses US in Weekly Inflows for Crypto ETFs

Despite an initial slow uptake, the Asian crypto ETF scene gradually gained momentum, with Hong Kong even surpassing the US in weekly inflows amidst the turbulence stemming from the US Federal Reserve‘s policy decisions.

While some observers expressed disappointment over the modest beginnings of the Hong Kong crypto ETF launch, others remained optimistic, seeing the potential for growth and integration within the global crypto market.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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