Hong Kong Bitcoin ETF records $8.5 million in first-day trading volume
The recently approved Hong Kong Bitcoin Spot ETF began trading today, but trading volume was relatively light on the first day. Hong Kong’s Securities and Futures Commission (SFC) approved a total of six spot Bitcoin and Ethereum ETFs last week.
NEW: 🇭instagram Hong Kong Spot opening ceremony #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn
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The three Bitcoin ETFs launched today include the ChinaAMC Bitcoin ETF, Harvest Bitcoin ETF, and Bosera HashKey Bitcoin ETF.
Despite the excitement surrounding the launch, total trading volume for all Hong Kong Bitcoin ETFs hit $8.5 million (HK$67 million) on the first trading day.
Analyzing individual Bitcoin ETF trading volume, ChinaAMC Bitcoin ETF recorded the highest trading volume at HK$37.16 million, followed by Harvest Bitcoin ETF at HK$17.89 million and Bosera HashKey Bitcoin ETF at HK$12.44 million. was recorded.
According to data from the Hong Kong Stock Exchange, the total trading volume of Bitcoin and Ethereum ETFs on this day reached $87.58 million ($12 million).
Although trading volume may seem low compared to the US spot Bitcoin ETF, which recorded $4.6 billion in first day trading volume, industry experts remain optimistic about the prospects for these products in Hong Kong.
Samson Mow, founder of JAN3, expressed belief that these ETFs will bear fruit in the long term, despite low initial trading volumes.
“Bitcoin ETFs in Hong Kong are going to be big. Maybe not in day 1 or 2, but the long-term impact is huge. There is currently no other way for Chinese investors to invest their money.”
The launch of Bitcoin ETF in Hong Kong is expected to attract more institutional investors over time and bring about mainstream adoption of Bitcoin in the region.
As the global Bitcoin landscape continues to evolve, Hong Kong’s move to embrace spot Bitcoin ETFs could position the city as a key player in Asia’s Bitcoin future.
