Hong Kong-based bitcoin exchange-traded funds saw their largest inflow in more than a month today, highlighting Asia’s growing interest in bitcoin investment vehicles.
Our new: 🇭🇰 Hong Kong #Bitcoin ETFs saw $15 million in inflows today, the highest in a month.
Slowly and steadily 🙌 pic.twitter.com/Q83tjbS0ML
— Bitcoin Magazine (@BitcoinMagazine) August 22, 2024
The ChinaAMC Bitcoin ETF The Hong Kong Stock Exchange took in 274 bitcoins worth $15 million on August 22, the largest daily inflow since July 12. Other Hong Kong-based bitcoin exchange-traded funds — Bosera Hashkey and Harvest — saw no inflows today.
Hong Kong approved its first three bitcoin exchange-traded funds (ETFs) earlier this year, following similar products launched in the United States and Europe. ETFs allow investors to gain exposure to bitcoin prices without having to deal with the assets directly.
While the size of Hong Kong’s Bitcoin ETFs is small compared to those in the United States, inflows have been steadily rising. The ChinaAMC Bitcoin ETF is the largest of the Hong Kong products, with net assets exceeding $141 million. The Bosera Hashkey and Harvest Bitcoin ETFs have total ETF assets of around $99 million and $30 million, respectively.
The Total Assets Under Management The total value of the three Hong Kong ETFs is around 4,450 BTC, worth $270 million.
While inflows remain modest, they indicate growing interest in and adoption of Bitcoin among Asian institutional investors. As Bitcoin matures into an established asset class, Asian and global investors are seeking structured exposure through products such as spot ETFs.