Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The Hong Kong spot bitcoin ETFs saw a decline in inflows on the second trading day.</li>
 <li>US spot bitcoin ETFs also experienced a net outflow on the same day.</li>
</ul>
<p>The three spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">bitcoin</a> exchange-traded funds (ETFs) in Hong Kong experienced a decline in inflows on their second trading day.</p>
<p>The inflows stood at 174.73 BTC ($10.3 million), a significant drop compared to the 3,910 BTC ($240 million) inflow on the first trading day.</p>
<h2 id="understanding-the-inflows">Understanding the Inflows</h2>
<p>There is a caveat with the inflow data. ETF shares purchased via in-kind subscriptions of physical Bitcoin do not generate cash inflows denominated in dollar terms, hence they are not included in daily net inflow statistics.</p>
<p>Instead, the inflow metric used is in BTC, which measures the actual amount of bitcoin that flowed into or out of all ETFs on a specific trading day.</p>
<p>The three ETFs, managed by China Asset Management (ChinaAMC), Harvest, Bosera, and HashKey, held approximately 4,000 BTC as of Thursday.</p>
<p>The total net assets slightly declined to $235.7 million from $247.7 million on the first day of trading.</p>
<h2 id="individual-etf-performance">Individual ETF Performance</h2>
<p>As of Thursday, the ChinaAMC Bitcoin ETF had about $115.6 million in net assets, making it the largest among the three spot bitcoin products.</p>
<p>Harvest’s ETF held about $62.4 million, while the Bosera HashKey Bitcoin ETF had approximately $57.7 million.</p>
<p>In contrast, spot bitcoin ETFs in the U.S. experienced a net outflow of $34.4 million on Thursday. This followed record-high outflows of $563.7 million the day before.</p>

Trading Day Two Sees Hong Kong Bitcoin ETFs Suffer a Downturn in Investments

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