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Crypto News – First Hong Kong ETF Outflows Seen as Trading Volumes Fall

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Crypto News - First Hong Kong ETF Outflows Seen As Trading Volumes Fall

Crypto News – First Hong Kong ETF Outflows Resulted in $75.36 Million

Crypto News – China Asset Management’s Bitcoin ETF was the sole contributor to the first-ever outflows recorded in the Hong Kong spot ETFs on Monday, May 6. Approximately $75.36 million left ChinaAMC’s Bitcoin ETFs on Monday, according to data from SoSo Value. However, there were no inflows into the other two Harvest and Hashkey ETFs. This ostensibly indicates indications of diminishing optimism as the worldwide economic outlook becomes utterly unpredictable.

Approximately 4,150 bitcoins were held by the three ETFs, which are managed by ChinaAMC, Harvest, and Bosera-Haskey, as of Monday. From $247.7 million on the first day to $266.8 million on the last, their total net assets grew.

Will Chinese Investors Be Enabled to Invest in Hong Kong ETFs?

However, there have been new rumors indicating that the Hong Kong ETF issuers may soon let Chinese investors make investments. In reaction to Samson Mow, Richard Byworth, managing partner at SyzCapital, stated this on X.

He declared that Stock Connect would take the place of the spot Bitcoin ETFs in Hong Kong. Through this platform, qualified investors in one area can access shares that are eligible in other areas. A cross-border investment channel between the Shenzhen Stock Exchange and the Hong Kong Stock Exchange is established by the Shenzhen-Hong Kong Stock Connect. Investors in either market will, therefore,  be able to trade their shares in the other market by using their clearing houses and local brokers.

FAQ

When Were Hong Kong Spot Bitcoin ETFs Approved?

Hong Kong approved spot Bitcoin ETFs on April 15.

Hong Kong First to Approve Spot Ether ETFs?

Hong Kong is not the first country to approve an Ether ETF. In 2021, Canada approved it first.

Is ETF Outflow a Bad Thing?

The terms “inflows” and “outflows” describe the purchasing and selling of Bitcoin ETF shares. When investors buy shares in a Bitcoin ETF, there are inflows; when they sell, there are outflows.

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto News - First Hong Kong ETF Outflows Seen as Trading Volumes Fall
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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