Hong Kong BTC and ETH Spot ETFs Cross $450 Million in Trading Volume
CryptoNewsTerminal Staff05 Jun, 2024
Hong Kong BTC and ETH Spot ETFs Cross $450 Million in Trading Volume
According to data from the Hong Kong stock exchange, trading volume for the six spot-trading Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) in Hong Kong reached approximately $450 million on June 5th. The trading took place on June 6th in Hong Kong, and the highest recorded daily trading volume was attributed to the Bitcoin ETF (Ticker: 3042.HK) by China Asset Management, which traded approximately $21.2 million. The surge in trading volume for these spot ETFs highlights the growing institutional interest in cryptocurrencies as an alternative investment class. These spot ETFs provide investors with exposure to the underlying assets without the need for direct ownership or custody of the cryptocurrencies themselves, making them an attractive option for institutional investors seeking exposure to the cryptocurrency market. The continued growth in trading volume for these spot ETFs indicates that institutional investors are increasingly recognizing the potential of cryptocurrencies as a diversifying asset class.
