Hong Kong Bitcoin and Ether ETFs have tough debut on first-day trading
Bitcoin and Ethereum spot ETFs began trading in Hong Kong, but day-one trading volumes were a fraction of those recorded in the United States in January 2024.
The launch of Bitcoin (BTC) exchange-traded funds in the United States has proved hard to follow as Hong Kong’s new Bitcoin and Ethereum ETFs hit $12 million in trading volume.
Bitcoin and Ethereum exchange-traded funds (ETFs) finally hit Hong Kong markets, but trading volumes suggest that the launch of Bitcoin ETFs in the United States set an exceptionally high bar to match.
The six new crypto ETFs’ total trading volume at the closing bell on day one in Hong Kong was 87.58 million Hong Kong dollars ($12 million). This number pales in comparison to the first-day trading volume of U.S. Bitcoin ETFs, which was valued at $4.6 billion.
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