Day 1 sees Hong Kong’s Bitcoin and Ether ETFs amass a staggering $200M in investments.

Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong have made a strong start, attracting over $200 million in total assets since their launch on April 30. Data from Arkham Intelligence shows that the Bosera HashKey spot Bitcoin and Ether ETFs have accumulated 964 Bitcoin (BTC) and 4,290 Ether (ETH), amounting to $71.94 million in assets under management. Additionally, ChinaAMC’s spot Bitcoin and Ether ETFs have amassed $123.61 million in combined assets, according to Eric Balchunas, a senior ETF analyst at Bloomberg. The asset management data for the spot Bitcoin and Ether ETFs from Harvest Global, the third ETF issuer, is currently unavailable. However, the two ETFs have achieved a combined turnover of $23 million. Despite these figures, the Hong Kong ETFs still lag behind their counterparts in the United States, which attracted nearly $4 billion in assets under management within the first week of their launch and saw a volume of $4.5 billion on January 12 alone, the first day of trading on Wall Street. Balchunas cautioned against high expectations for the Hong Kong ETFs, but noted that they still performed well compared to other ETFs launched in the past three years. HashKey acknowledged that non-Hong Kong nationals can invest in the ETFs if they meet local regulatory requirements, and the Hong Kong ETFs also allow investors to subscribe for units directly using BTC and ETH. A survey conducted by Hong Kong-regulated crypto exchange OSL revealed that 76.9% of crypto-knowledgeable respondents in the city plan to invest in the new ETFs, indicating a positive investor sentiment towards digital assets in the region. However, only Hong Kong residents are currently able to access the ETFs, while mainland Chinese investors are restricted unless they possess a Hong Kong residence permit.