Bitcoin ETF

Bitcoin

April

Spot

Hong Kong’s Bitcoin and Ether ETFs saw their largest-ever net $39M outflow since launching less than two weeks ago, with spot Bitcoin ETFs recording $32.7 million in net outflows, notably $15.5 million for ChinaAMC’s Bitcoin fund. 
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 <img fetchpriority="high" decoding="async" width="584" height="115" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/HK-Crypto-ETF-Flow-Table.png" alt="HK Crypto ETF Flow Table" class="wp-image-175606">
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Spot Ether ETFs from the same issuers had total net outflows of $6.6 million, with Harvest Global and ChinaAMC each losing $3 million. Since their April 30 launch, these funds have seen $20.9 million in total outflows, surpassing the $18.4 million in inflows recorded by May 10. 
According to <a href="https://farside.co.uk/?p=1508" target="_blank" rel="noreferrer noopener">Farside Investors</a> data, Monday marked the third consecutive day of net outflows for Hong Kong’s crypto ETFs, totaling $52.5 million since May 9. It was also the first time Harvest Global’s Bitcoin ETF saw outflows, losing $9.8 million. 
Bitcoin’s dip below $61,000, possibly linked to a post-halving slump after rewards were halved on April 20, contrasts with the larger U.S. crypto ETF market at $50 billion in assets, compared to Hong Kong’s $179.2 million. 
The substantial outflows from Hong Kong’s Bitcoin and Ether ETFs suggest investor caution amid market volatility, contrasting with the robust growth of the U.S. crypto ETF market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/08/hong-kong-spot-etfs-ease-us-outflow-in-digital-assets/" target="_blank" rel="noreferrer noopener">Hong Kong Spot ETFs Ease US Outflow in Digital Assets</a> 
</blockquote>

Hong Kong Bitcoin & Ether ETFs See $39M Outflows on May 13

The Crypto Times

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