Key Points:
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.
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. |
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…
Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…
Palo Alto, California, 21st November 2024, Chainwire
This website uses cookies.