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		<title>Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows</title>
		<link>https://coinengineer.net/blog/hong-kong-bitcoin-etfs-initial-inflows-followed-by-outflows/</link>
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		<dc:creator><![CDATA[Tanju Akbıyık]]></dc:creator>
		<pubDate>Tue, 07 May 2024 10:52:25 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Hong Kong and Spot Bitcoin ETFs]]></category>
		<category><![CDATA[Spot Bitcoin ETFs]]></category>
		<guid isPermaLink="false">https://coinengineer.io/?p=19828</guid>

					<description><![CDATA[<p>After making their debut on the Hong Kong Stock Exchange on April 30, Hong Kong&#8217;s spot bitcoin exchange-traded funds reported their first cumulative daily bitcoin outflows on Monday, originating only from China Asset Management&#8217;s exchange-traded funds. 75.36 BTC left ChinaAMC&#8217;s spot bitcoin ETF yesterday, while there were no inflows into the other two ETFs. This</p>
<p>The post <a href="https://coinengineer.net/blog/hong-kong-bitcoin-etfs-initial-inflows-followed-by-outflows/">Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows</a> appeared first on <a href="https://coinengineer.net/blog">Coin Engineer</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>After making their debut on the <a href="https://coinengineer.net/blog/bitcoins-behavior-post-hong-kong-etf-launch-echoes-u-s-etf-pattern-analysts-predict-upswing/">Hong Kong</a> Stock Exchange on April 30, Hong Kong&#8217;s spot bitcoin exchange-traded funds reported their first cumulative daily bitcoin outflows on Monday, originating only from China Asset Management&#8217;s exchange-traded funds.</p>
<p>75.36 BTC left ChinaAMC&#8217;s <a href="https://www.forbes.com/advisor/investing/cryptocurrency/spot-bitcoin-etfs/#:~:text=Spot%20bitcoin%20ETFs%20hold%20actual,purchase%20or%20store%20it%20themselves.">spot bitcoin</a> <strong>ETF</strong> yesterday, while there were no inflows into the other two <strong>ETFs</strong>. This occurred following the three funds&#8217; first trading day inflow of 3,910 BTC, as per SosoValue data.</p>
<p>The SosoValue data should be used with caution since, as the data supplier explained, <strong>ETF</strong> shares purchased through in-kind subscriptions of &#8220;physical bitcoins&#8221; do not result in cash inflows expressed in dollars and are therefore excluded from daily net inflow statistics. Rather, the company uses the bitcoin-inflow indicator, which quantifies the quantity of bitcoins that genuinely entered or exited all <strong>ETFs</strong> on a given trading day.</p>
<p>According to SosoValue, as of Monday, the three <strong>ETFs</strong>—managed by ChinaAMC, Harvest, Bosera, and HashKey—held roughly 4,150 bitcoins, with their total net assets rising to $266.8 million from $247.7 million on the first day. Data from Farside Investors revealed comparable outcomes. According to its dashboard, there was a $4.9 million withdrawal from ChinaAMC&#8217;s spot bitcoin <strong>ETF</strong> on Monday, but there was no inflow into the other two.</p>
<p>According to SosoValue statistics, the combined trading volume of the three <strong>ETFs</strong> increased to $8.6 million on Monday from $8.01 million on Friday. In the meantime, spot bitcoin <strong>ETFs</strong> in the United States saw a net inflow of $217.06 million on Monday, marking the second consecutive day of net inflows for Grayscale&#8217;s GBTC fund.</p>
<p>The post <a href="https://coinengineer.net/blog/hong-kong-bitcoin-etfs-initial-inflows-followed-by-outflows/">Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows</a> appeared first on <a href="https://coinengineer.net/blog">Coin Engineer</a>.</p>
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