Hong Kong’s spot bitcoin ETFs saw second daily net outflows since debut
Quick Take
- The three spot bitcoin ETFs in Hong Kong saw about 90.16 BTC leave the products on Thursday, according to SosoValue.
- The total trading volume of the three ETFs amounted to $2.06 million on Thursday, down from $9.74 million on April 30, their first trading day.
Spot Bitcoin exchange-traded funds in Hong Kong experienced their second daily net outflows on Thursday since debuting on April 30, with about 90.16 BTC exiting the ETFs.
China Asset Management’s spot Bitcoin ETF saw 80.16 BTC leave the product yesterday, while the Bosera HashKey Bitcoin ETF recorded an outflow of 10 BTC, according to data from SosoValue. Harvest’s spot Bitcoin ETF logged zero flows.
The three ETFs’ daily net outflows came after they recorded net inflows of 101.6 BTC on Wednesday and inflows of 99.99 BTC on Tuesday. The funds saw their first daily outflows on Monday, with 75.36 BTC flowing out of the products.
The three ETFs — managed by ChinaAMC, Harvest, and both Bosera and HashKey — held about 4,260 bitcoins as of Thursday, with total net assets amounting to $261.45 million, up from $247.7 million on the first day, according to SosoValue.
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The total trading volume for the three ETFs amounted to $2.06 million on Thursday, down from $2.67 million the day before and $9.74 million on April 30, SosoValue data showed.
Farside Investors’ data suggested that the three spot Bitcoin ETFs recorded $5.5 million in total daily net outflows.
Meanwhile, the spot Bitcoin ETFs in the U.S. experienced a net outflow of $11.29 million on Thursday.
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