Capital outflow from Hong Kong spot Bitcoin ETFs
Date: 2024-05-07 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
On May 6, 2024, there was a net daily capital outflow from Hong Kong spot Bitcoin ETFs that reached 75.36 BTC, equivalent to $4.79 million, according to SoSo Value.
Origin of churn
The funds were withdrawn from China Asset Management (AMC), which manages assets in the Hong Kong spot Bitcoin ETF sector. AMC is a leader in assets under management (AUM), with 2,020 BTC in a single fund and 4,150 BTC in total across three products.
Capital flow in Ethereum-ETF
Unlike Bitcoin ETFs, the spot Ethereum ETF sector continues to see capital inflows. On May 6, an influx of 999.75 ETH was recorded into the Bosera HashKey Ether ETF, but no capital movement was recorded for the other two funds. The total AUM for all Ethereum ETFs is 17,280 ETH.
General review
These capital movements occur after these ETFs were introduced to the Hong Kong market on April 30, 2024. On the first day of trading, their volume exceeded $12 million, which indicates significant interest in these investment products.
