Hong Kong’s spot ETFs experience decline in bitcoin inflows on second trading day

Quick Take

  • Hong Kong’s three spot bitcoin ETFs have seen a decline in daily BTC inflows.
  • Inflows reduced to 174.73 bitcoin on the second day from 3,910 bitcoin on the opening day.
  • Total trading volume maintained at over $9.7 million on both days.

The three spot bitcoin exchange-traded funds in Hong Kong saw inflows of 174.73 BTC ($10.3 million) on the second trading day yesterday, compared to an inflow of 3,910 BTC ($240 million) on the first trading day. The trading volume stood at over $9.7 million on both days, according to SoSoValue data.

The caveat with the inflow data is that ETF shares bought via in-kind subscriptions of physical Bitcoin do not generate cash inflows denominated in dollar terms, so they are not included in daily net inflow statistics, SoSoValue clarified. Instead, the firm uses BTC inflow metric, which measures how much bitcoin actually flowed into or out of all ETFs on a specific trading day.

The three ETFs — managed by China Asset Management (ChinaAMC), Harvest, Bosera, and HashKey — held about 4,000 BTC as of Thursday, with total net assets slightly declining to $235.7 million from $247.7 million on the first day. May 1 was a public holiday in Hong Kong with markets closed.

Also, as of Thursday, the ChinaAMC Bitcoin ETF had about $115.6 million in net assets — the largest among the three spot bitcoin products. Harvest’s ETF held about $62.4 million, and the Bosera HashKey Bitcoin ETF had about $57.7 million.

Meanwhile, spot bitcoin ETFs in the U.S. experienced a net outflow of $34.4 million on Thursday, after logging record-high outflows of $563.7 million the day before.

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