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The trading volume of cryptocurrency ETFs in Hong Kong is significantly lower than that in the United States. Among the six ETFs available, Huaxia Fund has the highest market share.

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The trading volume of cryptocurrency ETFs in Hong Kong is significantly lower than that in the United States. Among the six ETFs available, Huaxia Fund has the highest market share.

The six Bitcoin and Ethereum ETFs newly launched by the Hong Kong Stock Exchange (HKEX) on Tuesday recorded approximately 87.58 million Hong Kong dollars (about 12 million U.S. dollars) on the first trading day, showing a good trading volume and indicating interest in cryptocurrency investments in Hong Kong.

ChinaAMC's Huaxia Fund Bitcoin and Ethereum ETFs Lead Market Share

ChinaAMC's ETF performance stands out, with the "Huaxia Fund Bitcoin ETF" claiming the largest market share among six products, ranking as the highest in trading volume.

  1. Huaxia Bitcoin ETF: HK$37.16M on the first trading day in Hong Kong, US$461.46K in USD, RMB542.54K in RMB
  2. Huaxia Ethereum ETF: HK$12.66M on the first trading day in Hong Kong, US$168.49K in USD, RMB329.41K in RMB
  3. Harvest Bitcoin ETF: HK$17.89M on the first trading day in Hong Kong, US$479.27K in USD
  4. Harvest Ethereum ETF: HK$4.95M on the first trading day in Hong Kong, US$128.77K in USD
  5. Bosera Bitcoin ETF: HK$12.44M on the first trading day in Hong Kong, US$94.36K in USD
  6. Bosera Ethereum ETF: HK$2.48M on the first trading day in Hong Kong, US$75.91K in USD

These ETFs are managed by well-known institutions such as ChinaAMC, Harvest, Bosera Fund, and HashKey, jointly creating a strong start.

Huaxia Fund Hong Kong prominently featuring Virtual Asset ETF advertisement on their website

Significant Discrepancy with the U.S. Market

Comparing with the 11 spot Bitcoin ETFs launched in the U.S. in early January, the first-day trading volume reached around $4.6 billion USD, showing a considerable gap with Hong Kong's figures. Just the U.S.'s IBIT alone has an average trading volume of $14.69 million USD in the past 10 days.

However, the initial subscription period for Hong Kong ETFs was very successful. ChinaAMC raised a total of HK$1.1 billion, $140.5 million USD, with HK$9.5 million going to its Bitcoin ETF and HK$1.6 million to its Ethereum product, demonstrating high market confidence in these new products.

This strong debut not only represents a significant milestone in the Hong Kong financial landscape but also paves the way for the growth of cryptocurrency ETFs in the future. With good market acceptance and substantial initial subscriptions, Hong Kong's emerging financial innovations seem ready to thrive in the ever-evolving global cryptocurrency market.