Hong Kong’s three spot Bitcoin exchange-traded funds recorded net outflows of 25.63 BTC on Thursday, while the region’s spot Ether ETF reported zero flows.
The outflow of spot Bitcoin ETFs was caused solely by products managed by China Asset Management, which reportedly saw an outflow of 25.63 BTC from the fund. data In small value. As of Thursday, the combined net assets of the three spot Bitcoin ETFs stood at $254.74 million.
The city’s three spot ether ETFs had zero flows on Thursday after bringing in 62.8 ETH on Wednesday. The total net worth of the three products reached $50.83 million as of Thursday.
Meanwhile, in the U.S., 11 spot Bitcoin ETFs reported inflows for the ninth straight day on Thursday. Attracted $107.91 million.
On Thursday, the U.S. Securities and Exchange Commission Approved 19b-4 format for eight spot Ethereum ETFs changing political dynamics Among lawmakers.
“The ETH spot ETF in Hong Kong is about 15% of the total local spot ETF AUM (the remainder is allocated to BTC), so we can expect a similar percentage in the U.S. or abroad.” Justin d’Anethan, head of APAC business development at cryptocurrency marketplace maker Keyrock, told The Block. “This is probably because spot ETH ETFs are inherently inferior investment products compared to their native tokens, as no staking rewards have been offered to date.”
At the time of publication, Bitcoin was trading at $67,254, down 3% over the past 24 hours, while Ethereum was trading at $3,746, down 0.51%. The Block Pricing Page.
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.