As a seasoned crypto investor with a keen eye for market trends and a heart in Hong Kong, I can’t help but feel a sense of pride and anticipation at the record-breaking monthly trading volume of Bitcoin spot ETFs in our vibrant city. Having navigated through the ups and downs of the crypto market since its inception, I’ve seen firsthand how Asia, particularly Hong Kong, is rapidly emerging as a major player in this global digital revolution.
The monthly trading volume for three Bitcoin spot ETFs based in Hong Kong reached an all-time high of $154 million on the Hong Kong Stock Exchange during the month of November, breaking previous records.
The trading volume of three Bitcoin spot ETFs on the Hong Kong Stock Exchange hit approximately HKD 1.2 billion (or $154 million USD) in November, breaking the previous monthly trading volume record.
Three key Hong Kong Exchange Traded Funds (ETFs) focused on Bitcoin (BTC), namely ChinaAMC Bitcoin ETF, Bosera Hashkey Bitcoin ETF, and Harvest Bitcoin Spot ETF, have been instrumental in this remarkable high-record streak. It’s noteworthy that these Bitcoin ETFs were only recently introduced in Hong Kong, debuting in early May 2024.
Over the past month, I’ve noticed that nearly 9 out of every 10 trades in my crypto portfolio were executed by ChinaAMC and Harvest International, contributing a staggering USD 136 million to our collective trading fund. This duo alone accounted for almost the entire trading volume, making them significant players in the market I’m invested in.
According to recent data, ChinaAMC Bitcoin ETF, which is managed by Huaxia Fund, accounts for the highest trading volume today with a total of 2.02 million shares traded on December 2nd. Currently, each share of this Bitcoin ETF is being traded at HKD 11.89.
Today, the Harvest Bitcoin Spot ETF saw a trading volume of approximately 162,500 shares, with each share priced at HKD 11.96, making it the second most traded ETF in terms of volume.
Currently, a total of 64,680 shares for the Bosera Hashkey Bitcoin ETF have been traded today. At this moment, each share is being exchanged at approximately HKD 74.58, according to Bosera Asset Management’s issuance.
Even though the daily trading volume for Hong Kong’s Bitcoin spot ETFs is currently significantly lower compared to U.S.-based ETFs like iShares Bitcoin Trust ETF and Grayscale Bitcoin Trust ETF, which typically handle an average of around 40 million shares and 3.8 million shares per day respectively, the situation may change over time.
In April, following over a year of determined work, the Hong Kong authorities gave their approval for the release of Bitcoin spot ETFs onto the market. This move was aimed at positioning Hong Kong as a highly regulated hub within the rapidly growing field of virtual asset trading.
On May 6, exchange-traded funds in Hong Kong recorded the first cumulative outflow of funds.
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2024-12-02 13:56