Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin and Ethereum ETFs saw sharp outflows in Hong Kong market

Bitcoin and Ethereum ETFs saw sharp outflows in Hong Kong market

Cryptobriefing2024/05/16 12:13
By:Vivian Nguyen

Hong Kong’s spot Bitcoin and Ethereum exchange-traded funds (ETFs) recorded massive outflows in the latest trading session, according to data from Farside.

On Monday, three Bitcoin funds—Borsera, AMC, and Harvest—experienced outflows totaling $32.7 million, marking the largest since their launch . Currently, these funds have approximately $247 million in Bitcoin under management (AUM).

Bitcoin and Ethereum ETFs saw sharp outflows in Hong Kong market image 0 Bitcoin and Ethereum ETFs saw sharp outflows in Hong Kong market image 1

Ethereum ETFs also reported outflows, with $6.6 million leaving the funds. These Ethereum funds now have a total AUM of nearly $45 million.

Overall, the combined outflows for Bitcoin and Ethereum ETFs in Hong Kong have reached $20.9 million.

Do mainland Chinese investors get access to Hong Kong-listed crypto ETFs?

Discussions are ongoing about the possibility of mainland Chinese investors gaining access to the newly launched Hong Kong’s crypto ETFs. According to a recent report from South China Morning Post (SCMP), these new crypto ETFs are “technically” accessible to mainland Chinese investors.

In other words, mainland Chinese investors with Hong Kong bank accounts could potentially purchase shares as long as they pass KYC (know-your-customer) requirements. However, the report also noted that stringent KYC procedures could pose a challenge, as not all brokerages accept mainland ID cards.

Plus, despite potential access to Hong Kong ETFs, Beijing’s ban on commercial crypto trading within mainland China remains in effect. Bloomberg analyst Eric Balchunas previously pointed out this existing trading ban as one of the major challenges .

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!