Hong Kong’s Bitcoin Spot ETFs saw their biggest inflows in a month

Hong Kong’s spot Bitcoin ETFs saw their biggest inflow of funds in over a month today, highlighting Asia’s growing interest in Bitcoin investment vehicles.

ONLY IN: 🇭🇰 Hong Kong #Bitcoin ETFs saw $15 million in flows today, the most in a month.

Slow and steady 🙌 pic.twitter.com/Q83tjbS0ML

— Bitcoin Magazine (@BitcoinMagazine) August 22, 2024

The ChinaAMC Bitcoin ETF received 274 Bitcoins worth about $15 million on August 22, the biggest day of inflows since July 12. The other two Bitcoin ETFs in Hong Kong – Bosera Hashkey and Harvest saw no flows today.

Hong Kong approved its first three spot Bitcoin ETFs earlier this year, following the launch of similar products in the US and Europe. ETFs allow investors to gain exposure to Bitcoin prices without having to deal directly with the asset.

While Bitcoin ETF volumes in Hong Kong pale in comparison to those in the US, inflows have steadily increased. The ChinaAMC Bitcoin ETF is the largest of the Hong Kong products, with net assets of over $141 million. The Bosera Hashkey and Harvest Bitcoin ETFs have around $99 million and $30 million respectively under management.

The total assets under management in the three Hong Kong Spot Bitcoin ETFs are about 4,450 BTC worth about $270 million.

Although still modest, the growing flows indicate a growing interest and adoption of bitcoin among Asian institutional investors. As Bitcoin matures into an established asset class, Asian and global investors are seeking regulated exposure through products such as spot ETFs.