Hong Kong's Bitcoin and Ethereum Spot ETFs Hit Record High Trading Volume

IconCryptoNewsTerminal Staff14 Jun, 2024

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Hong Kong's Bitcoin and Ethereum Spot ETFs Hit Record High Trading Volume

Hong Kong's Bitcoin and Ethereum spot exchange-traded funds (ETFs) traded more than HK$2.5 billion (US$320 million) on Monday, March 14, 2023, according to the Hong Kong Stock Exchange (HKEX). The volume reflects a surge in investor interest in cryptocurrency-linked products. The six spot ETFs listed in Hong Kong saw a combined trading volume of HK$144.2 million (US$19.3 million) as of 11:00 am local time. The China Asset Management Bitcoin ETF (ticker: 3042.HK) recorded the highest trading volume at HK$84.3 million (US$11.2 million). Other notable performers included the CSOP Bitcoin Futures ETF (ticker: 3074.HK) and the Invesco Physical Ethereum ETF (ticker: 3188.HK). The growth in trading volume comes as Bitcoin and Ethereum prices have rallied in recent weeks. Bitcoin has gained over 40% in the past month, while Ethereum has surged over 50%. The popularity of cryptocurrency ETFs in Hong Kong is likely driven by several factors, including the increasing regulatory clarity around cryptocurrencies in the city and the growing demand from institutional investors for exposure to digital assets.

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