{"id":19828,"date":"2024-05-07T10:52:25","date_gmt":"2024-05-07T10:52:25","guid":{"rendered":"https:\/\/coinengineer.io\/?p=19828"},"modified":"2024-05-07T10:52:25","modified_gmt":"2024-05-07T10:52:25","slug":"hong-kong-bitcoin-etfs-initial-inflows-followed-by-outflows","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/hong-kong-bitcoin-etfs-initial-inflows-followed-by-outflows\/","title":{"rendered":"Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows"},"content":{"rendered":"<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>\n<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>\n<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>\n<p>According to SosoValue, as of Monday, the three <strong>ETFs<\/strong>\u2014managed by ChinaAMC, Harvest, Bosera, and HashKey\u2014held 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>\n<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>\n","protected":false},"excerpt":{"rendered":"<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>\n","protected":false},"author":6,"featured_media":19829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5909,3695],"class_list":["post-19828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hong-kong-and-spot-bitcoin-etfs","tag-spot-bitcoin-etfs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong Bitcoin ETFs: Initial Inflows Followed by Outflows - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Hong Kong&#039;s new Bitcoin ETFs see first outflows, but total holdings still rise. 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