Hong Kong’s three spot Bitcoin exchange-traded funds saw inflows of 174.73 BTC ($10.3 million) on their second trading day yesterday, compared to 3,910 BTC ($240 million) on their first trading day. Trading volume hit more than $9.7 million over two days, according to SoSoValue data.
A caveat to the inflow data is that ETF shares purchased through spot subscriptions for physical Bitcoin do not generate dollar-denominated cash inflows and are therefore not included in the daily net inflow statistics, SoSoValue said. Instead, the company uses a BTC inflow indicator, which measures the amount of Bitcoin actually flowing into or out of all ETFs on a given trading day.
The three ETFs managed by ChinaAMC, Harvest, Bosera and HashKey held about 4,000 BTC as of Thursday, with total net assets down from $247.7 million on the first day. It decreased slightly to $35.7 million. May 1st is a public holiday in Hong Kong, so markets are closed.
Additionally, as of Thursday, the ChinaAMC Bitcoin ETF had net assets of approximately $115.6 million, making it the largest of the three spot Bitcoin products. Harvest’s ETF held about $62.4 million, and the Bosera HashKey Bitcoin ETF held about $57.7 million.
Meanwhile, U.S. spot Bitcoin ETFs experienced net outflows of $34.4 million on Thursday, after recording record outflows of $563.7 million the previous day.
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