The three spot Bitcoin exchange-traded funds (ETFs) in Hong Kong<\/a> have surpassed HK$2 billion (around $272 million) in assets under management since launching earlier this year.<\/p>\n

NEW: \ud83c\udded\ud83c\uddf0 Hong Kong #Bitcoin<\/a> ETFs surpass HK $2 billion in assets under management. <\/p>\n

China is getting prepared \ud83d\ude4c pic.twitter.com\/GQZC1Z5UFC<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) August 26, 2024<\/a><\/p>\n

The milestone comes just months after Hong Kong approved<\/a> its first spot bitcoin ETFs, following similar moves in the U.S. and Europe. The ETFs provide exposure to Bitcoin prices without directly owning Bitcoin.<\/p>\n

While volumes have been slower than U.S. Bitcoin ETFs, assets under management have steadily climbed. This suggests a growing institutional appetite for regulated Bitcoin products in Asia.<\/p>\n

The ChinaAMC Bitcoin ETF is the largest of the Hong Kong Bitcoin ETFs<\/a>, with over $142 million in net assets. Bosera Hashkey’s Bitcoin ETF comes next with around $99 million in holdings, followed by Harvest Bitcoin ETF with $31 million. Together, the total Bitcoin holdings across the three Hong Kong ETFs stand at approximately 4,450 BTC, worth $272 million at current prices.<\/p>\n

Industry observers believe innovations like the ETFs’ redemption method could attract more capital over time. The Hong Kong products allow for in-kind redemptions using actual Bitcoin, unlike cash-only U.S. ETFs.<\/p>\n

The growth indicates increasing Bitcoin adoption by institutional investors in Asia. If interest in Hong Kong’s spot Bitcoin ETFs continues at the current pace, they could emerge as a significant regional pool of Bitcoin demand.<\/p>\n

Other Asian countries, such as Singapore, Malaysia, and South Korea, are also in the pipeline to launch spot Bitcoin ETFs<\/a>. This could further integrate Bitcoin within mainstream finance across the continent.<\/p>","protected":false},"excerpt":{"rendered":"

The three spot Bitcoin exchange-traded funds (ETFs) in Hong Kong have surpassed HK$2 billion (around $272 million) in assets under management since launching earlier this year. NEW: \ud83c\udded\ud83c\uddf0 Hong Kong #Bitcoin ETFs surpass HK $2 billion in assets under management. China is getting prepared \ud83d\ude4c pic.twitter.com\/GQZC1Z5UFC \u2014 Bitcoin Magazine (@BitcoinMagazine) August 26, 2024 The milestone […]<\/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-27524","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27524","targetHints":{"allow":["GET"]}}],"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=27524"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/27524\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=27524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=27524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=27524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}