{"id":24767,"date":"2024-04-30T12:01:55","date_gmt":"2024-04-30T12:01:55","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/04\/30\/hong-kong-bitcoin-etfs-record-only-8-5-million-volume-on-first-day\/"},"modified":"2024-04-30T12:01:55","modified_gmt":"2024-04-30T12:01:55","slug":"hong-kong-bitcoin-etfs-record-only-8-5-million-volume-on-first-day","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/04\/30\/hong-kong-bitcoin-etfs-record-only-8-5-million-volume-on-first-day\/","title":{"rendered":"Hong Kong Bitcoin ETFs Record Only $8.5 Million Volume on First Day"},"content":{"rendered":"<p>The recently approved Hong Kong\u00a0<a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">Bitcoin spot ETFs<\/a> began trading today, but saw relatively low volume on their first day. The Hong Kong Securities and Futures Commission (SFC) approved 6 total spot Bitcoin and Ethereum ETFs last week.<\/p>\n<p>NEW: \ud83c\udded\ud83c\uddf0 Opening ceremony of Hong Kong spot <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETFs \ud83d\udc4f <a href=\"https:\/\/t.co\/ux1eb5PqRn\">pic.twitter.com\/ux1eb5PqRn<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1785233121840926965?ref_src=twsrc%5Etfw\">April 30, 2024<\/a><\/p>\n<p>The three Bitcoin ETFs that went live today include the ChinaAMC Bitcoin ETF, Harvest Bitcoin ETF, and Bosera HashKey Bitcoin ETF.\u00a0<\/p>\n<p>Despite the excitement surrounding the launch, the total trading volume for all Hong Kong Bitcoin ETFs stood at a modest $8.5 million (HK$67 million) for the first trading day.<\/p>\n<p>Breaking down the individual Bitcoin ETF trading volumes, the ChinaAMC Bitcoin ETF recorded highest volume of HK$37.16 million, the Harvest Bitcoin ETF saw $17.89 million, and the Bosera HashKey Bitcoin ETF witnessed HK$12.44 million in trading.\u00a0<\/p>\n<p>The combined Bitcoin and Ethereum ETF trading volume for the day amounted to HK$87.58 million dollars ($12 million), as per data on\u00a0<a href=\"https:\/\/www.hkex.com.hk\/Market-Data\/Securities-Prices\/Exchange-Traded-Products?&amp;sc_lang=en\">Hong Kong Stock Exchange<\/a>.<\/p>\n<p>While the trading volumes may seem low compared to the U.S. spot Bitcoin ETFs, which saw a staggering $4.6 billion in trading volumes on their first day, industry experts remain optimistic about the prospects of these products in Hong Kong.\u00a0<\/p>\n<p>Samson Mow, founder of JAN3\u00a0<a href=\"https:\/\/x.com\/Excellion\/status\/1785040628793131358\">expressed his belief<\/a> that these ETFs will bear fruit in the long run, despite the initial low volume trading day:\u00a0<\/p>\n<p>&#8220;Bitcoin ETFs in HK are going to be big. Maybe not on day 1 or 2, but the long term implications are massive. There is really nothing else for Chinese investors to put their money into at this time.&#8221;<\/p>\n<p>                        <a href=\"https:\/\/bm.b.tc\/unchained-bmag-dot-com\"><\/a><br \/>\n                        <em>Click the image to learn more.<\/em><\/p>\n<p>The launch of Bitcoin ETFs in Hong Kong is expected to attract more institutional investors and mainstream adoption of Bitcoin in the region over time.\u00a0<\/p>\n<p>As the global Bitcoin landscape continues to evolve, Hong Kong&#8217;s move to embrace spot Bitcoin ETFs could position the city as a key player in the future of Bitcoin in Asia.<\/p>","protected":false},"excerpt":{"rendered":"<p>The recently approved Hong Kong\u00a0Bitcoin spot ETFs began trading today, but saw relatively low volume on their first day. The Hong Kong Securities and Futures Commission (SFC) approved 6 total spot Bitcoin and Ethereum ETFs last week. NEW: \ud83c\udded\ud83c\uddf0 Opening ceremony of Hong Kong spot #Bitcoin ETFs \ud83d\udc4f pic.twitter.com\/ux1eb5PqRn \u2014 Bitcoin Magazine (@BitcoinMagazine) April 30, [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24767","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24767"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=24767"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24767\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=24767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=24767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=24767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}