Welcome to the Era of Hong Kong Spot BTC and ETH ETFs ๐
Exciting news for crypto enthusiasts as Hong Kong recently approved the launch of several spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). The Hong Kong Stock Exchange saw the debut of six spot BTC and ETH ETFs, marking a significant milestone in the crypto investment landscape.
Hong Kong Spot BTC and ETH ETFs Records Inflows ๐
The Hong Kong Exchanges and Clearing Ltd. (HKEX) listed a total of six spot BTC and ETH ETFs, including products like Harvest Bitcoin Spot ETF, Harvest Ether Spot ETF, Bosera HashKey Bitcoin ETF, Bosera HashKey Ether ETF, ChinaAMC Bitcoin ETF, and ChinaAMC Ether ETF.
- During the morning session, the trading volume for these ETFs reached approximately HK$49.4 million (around $6.3 million).
- China Asset Managementโs ChinaAMC Bitcoin ETF led in trading volume with about HK$22.97 million, followed by the ChinaAMC Ether ETF at approximately HK$10.47 million.
- Harvest Bitcoin Spot ETF recorded around HK$8.11 million in trading volume, while the spot ether ETF saw about HK$2.18 million.
Market Picture ๐
The introduction of spot Bitcoin and Ethereum ETFs in Hong Kong signifies the growing demand for digital assets on a global scale. As the market eagerly anticipates the decision of the US SEC regarding spot Ether ETFs, the Hong Kong-listed products are poised to become a key benchmark for the industry.
Furthermore, both Bitcoin and Ether prices have displayed upward momentum and established strong support levels, reflecting the positive sentiment surrounding the crypto market.
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