Hong Kong Bitcoin ETFs Experience First Daily Outflows, ChinaAMC's ETF Sees Significant Bitcoin Departures

Hong Kong's spot bitcoin exchange-traded funds (ETFs) experienced their first cumulative daily outflows on Monday, solely from China Asset Management's ETF. ChinaAMC's ETF saw 75.36 BTC leave the product, while the other two ETFs had zero inflows. On their first trading day, the three funds had an inflow of 3,910 BTC. However, it is important to note that the data provider, SosoValue, does not include ETF shares bought via in-kind subscriptions of "physical bitcoins" in their daily net inflow statistics. Instead, they use the bitcoin-inflow metric. The three ETFs held about 4,150 bitcoins as of Monday, with total net assets amounting to $266.8 million. Farside Investors' data showed similar results, with ChinaAMC's ETF experiencing an outflow of $4.9 million. The total trading volume for the three ETFs reached $8.6 million on Monday. In contrast, spot bitcoin ETFs in the U.S. had a net inflow of $217.06 million, with Grayscale's GBTC fund recording its second daily net inflow.

Sources :
- TheBlock