According to data disclosed by the Hong Kong Stock Exchange, the asset management scale of the three Hong Kong spot virtual asset ETFs, Huaxia, Jiashi, and Boshi HashKey, has exceeded HK$2 billion in the first week of listing. As of the close of trading at 16:08 Hong Kong time on May 3, 2024, the asset management scale of the three Hong Kong spot virtual asset ETFs in the first week of listing reached HK$2.13069 billion, which is nearly twice the asset management scale of virtual asset futures ETFs of about HK$1.192 billion, as follows:

According to HODL15Capital data, on April 30th, the net outflow of US spot Bitcoin ETF was 162 million US dollars, with a net negative value for 5 consecutive days.

On April 30th, Huaxia Fund (Hong Kong), Boshi Fund (International), and Jiashi International Asset's first batch of spot cryptocurrency ETFs officially landed on the Hong Kong Stock Exchange. Overall, the first batch of spot cryptocurrency ETFs had an active performance on the first day, with a trading volume exceeding HKD 87 million. Bitcoin ETFs had a rise of over 1%, outperforming Ethereum ETFs.

According to SoSoValue data, yesterday (April 26th, Eastern Time), the total net outflow of Bitcoin spot ETF was 83.6147 million US dollars, including:

Blue Whale News learned from industry insiders that in addition to Boshi, Huaxia, and Jiashi, local Hong Kong institution Huili also applied to issue virtual currency spot ETFs, but did not appear on the approved list in the end. Insiders told Blue Whale News that Huili voluntarily withdrew after applying because the preparation work was not done well, time was tight, and manpower was insufficient. In addition, compared with the other three companies, Huili mainly does active business in Hong Kong and is relatively weak in ETF business, so it plans to wait and see first.

Hong Kong investors and the Financial Education Committee have stated that the investment scope of spot virtual asset ETFs is limited to virtual assets (currently limited to Bitcoin and Ethereum) provided to the Hong Kong public for buying and selling on virtual asset trading platforms holding China Securities Regulatory Commission licenses. Trading counterparties must buy and sell virtual assets through licensed virtual asset trading platforms to reduce counterparty risks. Asset custody must be entrusted to designated institutions regulated in Hong Kong, such as licensed virtual asset trading platforms, banks, or their subsidiaries registered in Hong Kong, to reduce custody risks. Investors can buy and sell virtual asset spot ETFs through securities firms or banks. Some virtual asset spot ETFs also provide non-listed fund unit categories, which operate similarly to non-listed funds. Investors can apply for and redeem units through securities firms or banks.

Bitwise CEO Hunter Horsley predicts that wealth management firms will increase their holdings of Bitcoin exchange-traded funds (ETFs), a prediction made in anticipation of greater momentum for Bitcoin ETFs after the halving. He describes the adoption of Bitcoin ETFs by registered investment advisors (RIAs) and multi-family offices as "secret but significant." He points out that major financial entities are carefully evaluating the Bitcoin market.

According to Bitcoinist, Chainlink co-founder Sergey Nazarov said in an interview with Cointelegraph at the Token2049 event in Dubai that more ETFs related to other cryptocurrencies will be launched soon, in addition to Bitcoin and Ethereum. This could happen as early as this year, and these ETFs may continue to grow in the future.Ripple CEO Brad Garlinghouse expressed a similar view, stating that he "thinks there will be other ETFs." However, unlike Nazarov, he is not optimistic about this happening this year. Garlinghouse added that launching other cryptocurrency ETFs may require "a little time" because the US SEC is reserved about holding crypto assets.

The South China Morning Post reported that sources said the Hong Kong Securities and Futures Commission may approve Bitcoin and Ether spot trading exchange-traded funds (ETFs) as early as next Monday, although the specific time has not yet been determined and may still change at the last minute. Once approved by the Hong Kong Securities and Futures Commission and the Hong Kong Exchanges and Clearing Limited, the two companies plan to launch the above-mentioned funds at the end of this month. A spokesperson for the Hong Kong Exchanges and Clearing Limited responded when asked: "The Hong Kong Exchanges and Clearing Limited is committed to supporting the continued growth and development of its active ETF ecosystem. If there are any new developments, we will promptly inform the market." Spokespersons for the Hong Kong Securities and Futures Commission and CSOP Asset Management declined to comment, while HashKey and Bosera Funds did not immediately respond to requests for comment.

According to Yu Jin monitoring, on April 12, eleven BTC spot ETFs had a net outflow of $55.06 million, corresponding to a net outflow of about 824 BTC from ETF custody addresses after the US market opens on Monday (4/15): Outflow: Grayscale (GBTC) outflow of about 2,486 BTC (corresponding to a fund outflow of $166.21 million on 4/12); Inflow: BlackRock (IBIT) inflow of about 1,662 BTC (corresponding to a fund inflow of $111.15 million on 4/12). Currently, the eleven BTC spot ETFs hold a total of 841,806 BTC ($56.29 billion).