In a bid to step up Hong Kong’s competitiveness as an international financial center, the region launched six crypto-focused ETF assets early this year.
Now, three of those six assets under management have hit a value of HK$2 billion, making it a milestone for the region.
In the early stages of this process, the ETFs experienced slow growth unlike those launched by the United States. However, the growth so far has been steady as more people buy into the idea of trading regulated Bitcoin products.
Growth Of the Hong Kong Bitcoin ETF assets ever since the official launch
In April 2024, the Hong Kong spot Bitcoin exchange launched on the stock market. This launch came months after it was teased for the region, and it was met with a warm welcome by most traders.
Following this launch, China Asset Management, Harvest Global Investments, Bosera International and HashKey became asset managers within adequate regulatory approval to offer these ETFs for purchase to the public.
The low fees of these ETFs at launch drew in investors not only from the local space but also internationally. These ETFs offered some exposure to the Hong Kong stock market, its strength and its volatilities as well.
Ever since the launch of these ETFs, players like China Asset Management, Harvest Global Investments, Bosera International and HashKey have been gaining public attention.
This attention has made all of these players holders of the most valuable assets in the Hong Kong Bitcoin ETF space.
Performance of Each Hong Kong Bitcoin ETF
According to reports, the total HK$2 billion ($272 million) assets under management are split between three holders.
The largest holder is ChinaAMC Bitcoin ETF, with over $142 million worth of assets in the Hong Kong Bitcoin ETF.
Next in line is Bosera Hashkey’s Bitcoin ETF, with over $99 million worth of assets on the Hong Kong Bitcoin ETF. Lastly, we have the Harvest Bitcoin ETF with the lowest assets, summing up $31 million worth of assets on the Hong Kong Bitcoin ETF.
Altogether, these assets sum up to $272 million traded within the Hong Kong stock market. Because these trades are carried out using Bitcoin, the worth of the total trades is about 4,450 BTC.
Industry specialists are very optimistic about the Hong Kong Bitcoin ETF, as they envision that it’ll draw in more investments locally and internationally as well.
This might also serve as a motivation for other Asian countries to launch their spot Bitcoin ETFs for trading within and outside the region.
Over the coming month, the performance of all six Hong Kong Bitcoin ETFs will become clear.
It might be logical to expect the other three ETFs to perform as well as the entries in consideration in this article.
