Assets Managed by Bitcoin ETF in Hong Kong Reach Over $100 Million!

  • CSOP Asset Management announced that the assets managed by the CSOP Bitcoin Futures ETF in Hong Kong have surpassed $100 million, experiencing a fivefold increase in the last five months as local investors follow the crypto rally.
  • Alessandro Zhu attributed the high demand to the approval and launch of spot Bitcoin ETFs in the United States.
  • The daily average trading volume of the CSOP Bitcoin Futures ETF reached $2.8 million, representing a 188% increase compared to the previous year ($0.97 million).

The amount of assets managed by the Bitcoin Futures ETF in Hong Kong has reached $100 million, indicating increasing interest in Hong Kong!

Bitcoin ETF in Hong Kong Records Significant Inflows

hong-kong-bitcoin

The managed assets of Hong Kong’s largest Bitcoin futures exchange-traded fund (ETF) have surpassed $100 million, experiencing a 500% increase since October 2023.

CSOP Asset Management, a Hong Kong-based capital market company, revealed in an interview with Reuters that the assets of its exchange-traded product, CSOP Bitcoin Futures ETF, have surpassed $100 million, increasing fivefold in the last five months as local investors follow the crypto rally.

Alessandro Zhu, Vice President overseeing crypto products at CSOP Asset Management, attributed the high demand to the approval and launch of spot Bitcoin ETFs in the United States.

Additionally, Zhu mentioned that investors also believe in the upward pressure on Bitcoin prices due to its limited supply of 21 million BTC. The largest cryptocurrency by market capitalization has already surpassed Hong Kong shares.

As the trading volume increased, the CSOP Bitcoin Futures ETF’s daily average trading volume reached $2.8 million, representing a 188% increase compared to the previous year ($0.97 million).

Hong Kong Remains Attractive in Crypto Space

Hong Kong continues to be an attractive hub for crypto-related activities as financial institutions turn their focus to the city. According to COINOTAG, Harvest Fund Hong Kong has applied for a spot Bitcoin ETF with the Hong Kong Securities and Futures Commission, reflecting local authorities’ willingness to approve spot crypto ETFs.

Additionally, it was reported that Harvest Global Investments, a subsidiary of Harvest Fund, held discussions with the Hong Kong Monetary Authority about stablecoin trials planned within regulatory sandboxes.

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Sheila Belson
Sheila Belsonhttps://en.coinotag.com
Sheila Belson is a 20-year-old financial content editor who ventured into the realm of cryptocurrencies in 2023. Enthralled by the innovative world of non-fungible tokens (NFTs), she harbours a profound affection for Ethereum. With a sharp eye for detail, Sheila skillfully navigates the dynamic crypto landscape, continuously seeking to enrich her understanding and share her passion through engaging and insightful content.
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