The first-day fundraising scale of the Hong Kong spot cryptocurrency ETF exceeded that of the US spot Bitcoin ETF
According to Golden Finance, on April 30th, the first batch of spot cryptocurrency ETFs under Huaxia Fund (Hong Kong), Bosera Fund (International), and Jia Shi International Asset officially landed on the Hong Kong Stock Exchange. Overall, the first batch of spot cryptocurrency ETFs showed active performance on the first day, with a trading volume exceeding 87 million Hong Kong dollars. The Bitcoin ETF saw an increase of over 1%, outperforming the Ethereum ETF. It was learned from industry insiders that Huaxia Fund (Hong Kong) had a strong momentum in issuance. On the first day of issuance, Huaxia's Bitcoin ETF and Ethereum ETF raised more than 1.1 billion Hong Kong dollars, surpassing the fundraising scale of US Bitcoin ETFs on their first day. Together with the total fundraising amount from two other institutions, this initial batch of cryptocurrency ETFs raised approximately 2 billion Hong Kong dollars. Analysts believe that investors in Hong Kong have shown strong interest in virtual assets. With continuous improvement in infrastructure and ecosystem for virtual assets, it is expected that the asset management scale of cryptocurrency ETFs will significantly expand.
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