The total trading volume of cryptocurrency ETF funds in the Hong Kong stock market reached nearly 27 million HKD.
Among them, the Bitcoin ETF and Ethereum fund from China Asset Management account for a large portion of transactions, with volumes exceeding 13 million and nearly 10 million HKD, while the Harvest and Bosera funds have significantly lower transactions.
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The total trading of cryptocurrency ETFs in Hong Kong reached approximately 26.7 million HKD.
China Asset Management leads trading with over 23 million HKD for Bitcoin and Ethereum ETFs.
The Harvest and Bosera funds have smaller trading volumes, totaling under 3 million HKD.
What is the total trading volume of cryptocurrency ETF funds in the Hong Kong stock market?
As of the market close, the total trading volume of all cryptocurrency ETFs listed in Hong Kong reached approximately 26.7 million HKD. This figure indicates significant interest from investors in cryptocurrency-related ETF products like Bitcoin and Ethereum in this market.
Strong trading in cryptocurrency ETFs contributes to reflecting the level of activity in the DeFi market in Hong Kong, even though these products are still new compared to traditional ETF funds.
Which ETF has the largest trading volume among cryptocurrency ETFs in Hong Kong?
China Asset Management clearly dominates with total trading volumes of its Bitcoin ETF and Ethereum ETF products at 13.7295 million HKD and 9.8638 million HKD, respectively, accounting for a large portion of the total market.
This demonstrates the trust and significant appeal of investors in the products of China Asset Management, as they offer a variety of funds with different currency denominations, including HKD, USD, and Renminbi.
How do the trading volumes of Harvest and Bosera funds compare to China Asset Management?
The Harvest funds have quite modest trading volumes, at 226,200 HKD for the Bitcoin ETF and 179,900 HKD for the Ethereum ETF. Meanwhile, the Bosera fund reached 693,460 HKD for the Bitcoin ETF and 2,001,320 HKD for the Ethereum ETF.
Although much smaller than China Asset Management, these numbers still indicate a level of diversity in investment options in the market and the emergence of other ETF providers to serve more customer segments.
Cryptocurrency ETFs in Hong Kong are playing an important role in bridging the gap between the cryptocurrency market and traditional investors.
Financial expert Ngo Minh, 2024
What currency denominations are used in trading these ETFs?
Most cryptocurrency ETFs in Hong Kong are traded in Hong Kong dollars (HKD) and US dollars (USD). In particular, the two funds of China Asset Management also provide an additional trading option in Renminbi (RMB).
This diversification of currencies facilitates international and domestic investors with more payment options, contributing to increased liquidity and expanding investor reach.
What are the outstanding advantages of cryptocurrency ETFs in Hong Kong?
Cryptocurrency ETFs are indirect investment tools that help investors access the cryptocurrency market through traditional stock channels, minimizing the risks of custody and security compared to directly owning coins.
In Hong Kong, some ETF funds offer a diverse range of trading currencies in HKD, USD, and RMB, providing investors with flexibility in conversion and payment. The high trading volumes from China Asset Management reflect the market's trust in these funds.
Frequently Asked Questions
What is a cryptocurrency ETF?
Cryptocurrency ETFs are investment funds that mimic the price of cryptocurrencies such as Bitcoin and Ethereum through the stock market, allowing investors to access them without directly holding the coins.
Why does China Asset Management have the largest trading volume?
China Asset Management has a diverse range of trading currencies and high credibility, helping to attract many domestic and international investors.
What currencies do cryptocurrency ETFs in Hong Kong typically trade in?
Primarily Hong Kong dollars and US dollars, some ETFs also support trading in Renminbi.
Are there risks in investing in cryptocurrency ETFs?
ETFs reduce custody risks compared to directly holding coins but still carry market and legal volatility risks.
What does the trading volume of cryptocurrency ETFs reflect?
High trading volume indicates strong interest and good liquidity, making it easier for investors to buy and sell.
Source: https://tintucbitcoin.com/hong-kong-etf-tien-dien-tu-giao-dich-267-trieu/
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