Hong Kong’s Bitcoin and Ether ETFs saw their largest-ever net $39M outflow since launching less than two weeks ago, with spot Bitcoin ETFs recording $32.7 million in net outflows, notably $15.5 million for ChinaAMC’s Bitcoin fund.
Spot Ether ETFs from the same issuers had total net outflows of $6.6 million, with Harvest Global and ChinaAMC each losing $3 million. Since their April 30 launch, these funds have seen $20.9 million in total outflows, surpassing the $18.4 million in inflows recorded by May 10.
According to Farside Investors data, Monday marked the third consecutive day of net outflows for Hong Kong’s crypto ETFs, totaling $52.5 million since May 9. It was also the first time Harvest Global’s Bitcoin ETF saw outflows, losing $9.8 million.
Bitcoin’s dip below $61,000, possibly linked to a post-halving slump after rewards were halved on April 20, contrasts with the larger U.S. crypto ETF market at $50 billion in assets, compared to Hong Kong’s $179.2 million.
The substantial outflows from Hong Kong’s Bitcoin and Ether ETFs suggest investor caution amid market volatility, contrasting with the robust growth of the U.S. crypto ETF market.
Also Read: Hong Kong Spot ETFs Ease US Outflow in Digital Assets
