HK's BTC, ETH Spot ETFs Traded Over HKD 1 Billion Today
CryptoNewsTerminal Staff27 May, 2024
HK's BTC, ETH Spot ETFs Traded Over HKD 1 Billion Today
Hong Kong's Bitcoin and Ethereum spot exchange-traded funds (ETFs) traded a combined HKD 1.025 billion (approx. USD 130 million) on Thursday, according to data from the Hong Kong Stock Exchange. The six ETFs listed on the exchange saw a trading volume of HKD 58.68 million (approx. USD 7.4 million). The China Asset Management Ethereum ETF (Ticker: 3046.HK) recorded the highest trading volume at HKD 22.92 million (approx. USD 2.9 million). Other ETFs with significant trading volumes included CSOP Bitcoin Futures ETF (Ticker: 3066.HK) and Purpose Bitcoin ETF (Ticker: 3138.HK). The surge in trading activity follows the recent market rally in Bitcoin and Ethereum, which have gained over 30% in the past month. The launch of these ETFs in Hong Kong has provided investors with an accessible and regulated way to gain exposure to the cryptocurrency market. Industry experts believe that the growing popularity of these ETFs is a sign of increasing institutional adoption of cryptocurrencies.
