December 04, 2024
By Our Correspondent
In November, the trading volume for three Bitcoin spot ETFs in Hong Kong reached an impressive $154 million, marking a record high on the Hong Kong Stock Exchange.
Data from the exchange indicates that the total monthly trading volume for these ETFs amounted to approximately HKD 1.2 billion, equivalent to $154 million, thereby establishing a new benchmark for monthly trading activity.
The three primary Bitcoin spot ETFs contributing to this remarkable achievement are the ChinaAMC Bitcoin ETF, the Bosera Hashkey Bitcoin ETF, and the Harvest Bitcoin Spot ETF.
This milestone is particularly significant, given that Hong Kong only introduced Bitcoin ETFs in early May 2024. In the previous month, the combined trading volume from ChinaAMC and Harvest International accounted for nearly 88% of the total trading activity, which was around HKD 1.06 billion ($136 million).
According to the latest figures, the ChinaAMC Bitcoin ETF, launched by Huaxia Fund, emerged as the leading contributor, with a total trading volume of 2.02 million shares recorded on December 2. The shares of this ETF are currently priced at HKD 11.89. Following closely is the Harvest Bitcoin Spot ETF, which reported a trading volume of 162,500 shares today, each valued at HKD 11.96.
Meanwhile, the Bosera Hashkey Bitcoin ETF recorded a total volume of 64,680 shares on Monday, with shares trading at HKD 74.58. However, the daily trading volumes for Hong Kong’s Bitcoin spot ETFs still lag significantly behind those of U.S.-based Bitcoin ETFs, such as the iShares Bitcoin Trust ETF and the Grayscale Bitcoin Trust ETF, which have averaged 40 million shares and 3.8 million shares, respectively.
The Hong Kong government approved the launch of Bitcoin spot ETFs in April, following over a year of dedicated efforts to position the region as a well-regulated hub for the virtual asset industry.
