The assets of the HKEX Bitcoin/Ethereum ETF reached US$292 million on its first day, far exceeding analysts’ expectations

On April 30, 2024, the Hong Kong Exchange officially launched Bitcoin and Ethereum spot ETF transactions. These transactions are provided by China Asset Management (Hong Kong), Boshi Fund (International) and Excellent Era International Assets.

The largest inflow of funds on the first day of launch was China Asset Management Bitcoin Spot ETF (code: 3042.HK), accounting for more than 42%; followed by Harvest Bitcoin Spot ETF (code: 3439.HK); and finally Boshi Fund Bitcoin Spot ETF (ticker: 3008.HK).

In terms of transaction fees, the China Asset Management Bitcoin Spot ETF is the highest, but the amount of capital inflow is the largest. It can be seen that investors pay more attention to the scale of the Bitcoin Spot ETF provider rather than the fee rate.

In terms of cryptocurrency, the scale of Bitcoin spot ETF is much larger than that of Ethereum spot ETF. Among the inflows on the first day, Bitcoin spot ETF accounted for as much as 85%, and Ethereum spot ETF accounted for 15%. It can be seen that Hong Kong investors Also value Bitcoin.

Statistics show that the first-day capital inflow of the Hong Kong Exchange Cryptocurrency Spot ETF was as high as 292 million U.S. dollars, far exceeding analysts’ expectations. Analysts expected its overall size to reach 1 billion U.S. dollars in two years, but now it has reached 1 billion U.S. dollars. USD time should be much shorter.

After the U.S. Federal Securities and Exchange Commission (SEC) approved the Bitcoin spot ETF, the scale of capital inflows on the first day was also very large. However, as time went by, the capital inflows gradually decreased and deviated from analysts’ expectations, so the Hong Kong Exchange Cryptocurrency It remains to be seen when the size of spot ETFs will reach the US$1 billion milestone.