Day 1 witnesses over $200M pouring into Hong Kong’s Bitcoin and Ether ETFs.

Hong Kong’s Bitcoin and Ether exchange-traded funds (ETFs) have had a successful debut, attracting over $200 million in total assets. Data from Arkham Intelligence shows that Bosera HashKey’s spot Bitcoin and Ether ETFs have accumulated 964 Bitcoin (BTC) and 4,290 Ether (ETH), amounting to $71.94 million in assets under management. ChinaAMC’s spot Bitcoin and Ether ETFs have also gathered $123.61 million in combined assets, according to Eric Balchunas, senior ETF analyst at Bloomberg.
The asset management data for Harvest Global’s spot Bitcoin and Ether ETFs has not been updated by the Hong Kong Stock Exchange. However, the combined turnover for these two ETFs has reached $23 million.
While the assets gathered by Hong Kong’s ETFs are significantly lower than their American counterparts, which attracted nearly $4 billion in assets under management during their first week and had a trading volume of $4.5 billion on January 12 alone, Balchunas still sees the Hong Kong ETFs as a success. He noted that ChinaAMC’s Bitcoin ETF, for example, already ranks sixth out of 82 ETFs launched in the past three years in Hong Kong and in the top 20% overall.
HashKey emphasized that non-Hong Kong nationals can also invest in the ETFs if they meet local regulatory requirements. Additionally, Hong Kong’s crypto ETFs allow investors to subscribe for units directly using BTC and ETH, which is not possible with their American counterparts.
A survey conducted by Hong Kong-regulated crypto exchange OSL revealed that 76.9% of crypto-knowledgeable respondents in the city plan to invest in the spot Bitcoin and Ether ETFs. This positive investor sentiment highlights the growing acceptance and importance of digital assets in Hong Kong’s economy.
However, it’s important to note that Hong Kong’s crypto ETFs are currently only accessible to the city’s adult residents, estimated to be 6.4 million. Mainland Chinese investors, totaling over 1 billion, cannot access these ETFs unless they have a Hong Kong residence permit.