Hong Kong’s ETFs Fail To Attract Investors, Mark Low Trading Volumes
- Hong Kong’s ETFs witnessed low trading volumes in the initial four trading days.
- The Bitcoin ETFs marked $5.5 million in trading volume on Friday, much lower than the first day.
- Bitcoin’s bearish track significantly impacts Hong Kong’s failure to attract investors to the ETF market.
Recent reports revealed that Hong Kong’s recently launched Bitcoin ETFs marked comparatively lower trading volumes in the first four days. Amidst declining Bitcoin price, the Bitcoin exchange-traded funds failed to attract investors and traders.
Reinforcing its vision of establishing a crypto hub, Hong Kong launched Bitcoin and Ether ETFs on April 30, following the Securities and Futures Commission’s (SFC) green light. In total, asset managers China Asset Management, Harvest Global, Bosera, and HashKey launched 6 Bitcoin and Ether ETFs.
In a previous interview, ChinaAMC executive Zhu Haokang posited that the initial listing scale of Hog Kong’s ETFs would exceed the initial day’s scale of US ETFs. He remained confident of the ETFs as he asserted, “The details will be revealed to everyone at 9:30 tomorrow mo…
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