Hong Kong Ethereum Spot ETF Inflows Remain Stagnant on Friday
CryptoNewsTerminal Staff21 May, 2024
Hong Kong Ethereum Spot ETF Inflows Remain Stagnant on Friday
Hong Kong Ethereum Spot ETFs See Zero Inflows on Friday Three Ethereum (ETH) spot exchange-traded funds (ETFs) listed in Hong Kong recorded zero inflows on Friday, according to data from Blockdata. The ETFs, from CSOP Asset Management, Harvest, and Bosera-HashKey, had no net inflows, following combined net outflows of 31.32 ETH last Friday. The combined assets under management for the three Hong Kong-listed ETH spot ETFs stood at $411.4 million as of Friday. Meanwhile, the three BTC spot ETFs saw net inflows of 99.8 BTC on the same day. The lack of inflows into Ethereum ETFs may indicate a cautious approach from investors amid market volatility. The cryptocurrency market has experienced a downturn in recent months, with both Bitcoin and Ethereum prices falling significantly. Despite the recent outflows, Hong Kong remains a major hub for cryptocurrency trading and investment. The city's robust regulatory framework and developed financial infrastructure make it an attractive destination for institutional investors.
