Hong-KongBitcoin ETFs saw the largest fund inflows in over a month today, underscoring growing interest in Bitcoin investment vehicles in Asia.
JUST IN: ðŸ‡ðŸ‡° Hong Kong #Bitcoin ETFs saw $15 million inflows today, the most in a month.
Slow and steady 🙌 photo.twitter.com/Q83tjbS0ML
— Bitcoin Magazine (@BitcoinMagazine) August 22, 2024
The ChinaAMC Bitcoin ETF took in 274 Bitcoin worth about $15 million on August 22, the largest inflow since July 12. The other two Hong Kong spot Bitcoin ETFs – Bosera Hashkey and Harvest saw no flows today.
Hong Kong approved its first three spot Bitcoin ETFs earlier this year, following the launch of similar products in the US and Europe. The ETFs allow investors to gain exposure to Bitcoin prices without having to handle the asset directly.
While Hong Kong’s Bitcoin ETF volumes pale in comparison to those in the U.S., inflows have been steadily rising. The ChinaAMC Bitcoin ETF is the largest of the Hong Kong products, with more than $141 million in net assets. Bosera Hashkey and Harvest Bitcoin ETFs have around $99 million and $30 million under management, respectively.
The total assets under management distributed across the three Hong Kong Spot Bitcoin ETFs is approximately 4,450 BTC worth approximately $270 million.
While still modest, the growing inflows indicate increasing bitcoin interest and adoption among Asian institutional investors. As bitcoin grows into an established asset class, Asian and global investors are seeking regulated exposure through products such as spot ETFs.