Hong Kong's BTC and ETH Spot ETF Trading Surges to $6.45 Million on Day 23

IconCryptoNewsTerminal Staff23 May, 2024

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Hong Kong's BTC and ETH Spot ETF Trading Surges to $6.45 Million on Day 23

Hong Kong's Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) have witnessed a significant surge in trading volume, reaching HK$36.93 million (approximately $6.45 million) on Day 23, as per data from the Hong Kong Stock Exchange. Among the six Bitcoin and Ethereum spot ETFs listed in Hong Kong, CSOP Asset Management's Bitcoin ETF (ticker: 3066.HK) recorded the highest volume at HK$21.46 million (approximately $3.75 million), followed by China Asset Management's Bitcoin ETF (ticker: 3042.HK) with HK$8.56 million (approximately $1.5 billion) in trading volume. This remarkable increase in trading volume highlights the growing interest and adoption of cryptocurrency-related investments in Hong Kong. The launch of these spot ETFs has provided investors with a regulated and accessible way to gain exposure to the digital asset market. The surge in trading volume also coincides with the recent positive price action in the cryptocurrency market, with both Bitcoin and Ethereum experiencing notable gains. As the market continues to evolve, it will be interesting to observe the further growth and development of the cryptocurrency ETF landscape in Hong Kong.

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