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Hong Kong’s spot bitcoin ETFs today recorded their largest inflow in over a month, highlighting growing Asian interest in bitcoin investment vehicles.
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BREAKING NEWS: Hong Kong twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETFs saw $15 million inflows today, the highest figure in a month.
Slowly but surely image.twitter.com/Q83tjbS0ML
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1826728595437330479?ref_src=twsrc%5Etfw”>August 22, 2024
He China bitcoin Exchange Traded Fund AMC On August 22, Hong Kong received 274 bitcoins worth around $15 million, its largest day of inflows since July 12. Hong Kong’s two other spot bitcoin ETFs, Bosera Hashkey and Harvest, saw no inflows today.
Hong Kong approved its first three bitcoin ETFs earlier this year, following the launch of similar products in the United States and Europe. ETFs allow investors to gain exposure to bitcoin prices without having to trade the asset directly.
While Hong Kong bitcoin ETF volumes are lower compared to those in the United States, capital inflows have been steadily increasing. ChinaAMC’s bitcoin ETF is the largest of Hong Kong’s products, with over $141 million in net assets. Bosera Hashkey and Harvest’s bitcoin ETFs have around $99 million and $30 million, respectively, under management.
He btc-spot”>total assets under management The three Hong Kong bitcoin Spot ETFs hold approximately 4,450 btc worth approximately $270 million.
While still modest, the rising flows indicate growing interest and adoption of bitcoin among Asian institutional investors. As bitcoin matures and becomes an established asset class, Asian and global investors are seeking regulated exposure through products such as spot ETFs.
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