Despite Approval, Hong Kong’s Booming Virtual Asset ETF Trading Faces Hurdles: Impact on Crypto Coins and Symbols
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- Hong Kong’s spot ETFs for virtual assets, led by Bitcoin, experienced a surge in trading volume on May 3, 2021.
- Despite this, analysts caution that Hong Kong ETFs may struggle to match the scale and dominance of their US counterparts.
- Factors such as market size, restrictions on Chinese locals, and the absence of major players like BlackRock contribute to this projection.
Despite a recent surge in trading volume, Hong Kong’s spot ETFs for virtual assets face challenges in matching the scale and dominance of their US counterparts. This article delves into the factors contributing to this outlook.
Surge in Trading Volume for Hong Kong’s Spot ETFs
On May 3, 2021, Hong Kong’s spot ETFs for virtual assets reported a significant increase in trading volume. The overall trading volume reached HK$48.91 million, with Bitcoin ETFs leading at HK$43.41 million and Ethereum ETFs following at HK$5.5 million. This surge is noteworthy, considering the trading volume for US Bitcoin spot ETFs on May 2 was a staggering $1.72 billion.
Challenges in Matching US Counterparts
Despite the enthusiasm generated by the approval of spot Ethereum and Bitcoin ETFs b... Read the full article for FREE at COINOTAG!
