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Home»ADOPTION NEWS»Hong Kong spot Bitcoin ​ETF records second daily net outflow since debut
ADOPTION NEWS

Hong Kong spot Bitcoin ​ETF records second daily net outflow since debut

By Crypto FlexsMay 10, 20242 Mins Read
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Hong Kong spot Bitcoin ​ETF records second daily net outflow since debut
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Funding • May 10, 2024 3:47 AM EDT

Posted 1 minute ago In ~

Hong Kong’s Spot Bitcoin exchange-traded fund experienced its second daily net outflow on Thursday since its launch on April 30, with approximately 90.16 BTC leaving the ETF.

According to data from SosoValue, China Asset Management’s spot Bitcoin ETF saw 80.16 BTC leave the product yesterday, while the Bosera HashKey Bitcoin ETF recorded an outflow of 10 BTC. Harvest’s spot Bitcoin ETF recorded zero flows.

The three ETFs’ daily net outflows follow net inflows of 101.6 BTC on Wednesday and 99.99 BTC on Tuesday. The fund recorded its first daily outflow on Monday, with 75.36 BTC flowing out of the product.

According to SosoValue, three ETFs managed by ChinaAMC, Harvest, Bosera and HashKey held about 4,260 bitcoins as of Thursday, with total net assets reaching $261.45 million, up from $247.7 million on the first day.

Total trading volume for the three ETFs was $2.06 million on Thursday, down from $2.67 million the previous day and $9.74 million on April 30, according to Small Value data.

According to data from Farside Investors, three spot Bitcoin ​​ETFs recorded a total daily net outflow of $5.5 million.

Meanwhile, U.S. spot Bitcoin ETFs experienced net outflows of $11.29 million on Thursday.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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