Hong Kong's spot bitcoin and ethereum exchange-traded funds (ETFs) have been seeing steady growth since their launch on April 30. The funds, offered by AMC China, Bosera & Hashkey, and Harvest, have accumulated $1.96 billion in bitcoin and $26.74 million in ethereum over the past 44 days.
AMC China leads the pack with assets under management (AUM) amounting to $1.07 billion in bitcoin and $18.17 million in ethereum. The Hong Kong ETFs currently hold approximately 2,900 BTC, valued at $1.96 billion, representing 3.26% of the total BTC held by U.S. spot ETFs, which stands at $60.01 billion.
Interestingly, Hong Kong's spot ether ETFs are already in operation, making it a milestone that the U.S. has yet to achieve. While the U.S. is expected to approve multiple spot ether ETFs soon, Hong Kong's ETF providers have secured $26.74 million in ethereum, with a total of around 7,640 ETH held since trading began.
Despite expectations of a surge in mainland Chinese investor interest, the reality has been more moderate. While Hong Kong's spot crypto ETFs have gathered significant assets, they are still smaller in scale compared to their U.S. counterparts.
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