Analysis: Why is there a huge mismatch between the initial scale and trading volume of Hong Kong crypto ETFs?
By Tom Analysis, SoSoValue Researcher The Hong Kong Securities and Futures Commission officially announced the list of approved virtual asset spot ETFs, including the Bitcoin spot ETF and Ethereum spot ETF under ChinaAMC (Hong Kong), Harvest International and Bosera Asset Management. These six spot ETF products opened for subscription from April 25th to 26th and were listed on the Hong Kong Stock Exchange on April 30th. Through the subscription, the six Hong Kong spot ETFs obtained a decent initial scale. According to SoSoValue data, the total net value of the three Bitcoin ETFs is $248 million, and the total net value of the three Ethereum ETFs is $45 million, with a total net value of nearly $300 million; while the first-day total net value of the US Bitcoin spot ETF products, excluding Grayscale (GBTC), was only $130 million. However, in terms of first-day trading volume, Hong Kong’s cryptocurrency ETFs are far smaller than their counterparts in the United States. According to SoSoV...