The post Hong Kong Officially Debuts Asia’s First Spot Bitcoin and Ethereum ETFs appeared first on Coinpedia Fintech News
Earlier this month, Hong Kong approved several spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). Six-spot BTC and ETH ETFs officially debuted on the Hong Kong Stock Exchange earlier today.
The Hong Kong Exchanges and Clearing Ltd. (HKEX) listed six spot BTC and ETH ETFs. The listed products include Harvest Bitcoin Spot ETF (3439: HK) and Harvest Ether Spot ETF (3179: HK), Bosera HashKey Bitcoin ETF (3008: HK), Bosera HashKey Ether ETF (3009: HK), ChinaAMC Bitcoin ETF (3042: HK), and ChinaAMC Ether ETF (3046: HK).
Hong Kong Spot BTC and ETH ETFs Records Inflows
According to market data from HKEX, during the morning session, the six spot BTC and ETH ETFs in Hong Kong recorded a trading volume of about HK$49.4 million, approximately $6.3 million.
Notably, the China Asset Management’s ChinaAMC Bitcoin ETF led in a trading volume of about HK$22.97M. The ChinaAMC Ether ETF recorded the second-largest volume of around HK$10.47 million.
Harvest Bitcoin Spot ETF registered around HK$8.11 million and about HK$2.18 million in its spot ether ETF. Bosera HashKey Bitcoin ETF recorded a volume of about HK$3.59 million, while its spot ether ETF recorded a volume of HK$1.53 million during the morning session on Tuesday.
Market Picture
The entrance of spot Bitcoin and Ethereum ETFs in Hong Kong is a clear indication of the heightened demand for digital assets worldwide. As the crypto market awaits the US SEC’s decision on spot Ether ETFs, Hong Kong-based products will be a major benchmark.
Meanwhile, Bitcoin and Ether prices have bumped and found solid support levels.