The sources under management of Hong Kong’s biggest futures Bitcoin exchange-traded fund (ETF) have soared by 500%, reaching the $100 million notice since October 2023.
Hong Kong-basically basically basically based capital market agency CSOP Asset Administration revealed in an interview with Reuters that its exchange-traded product CSOP Bitcoin Futures ETF has skilled a 5-fold amplify in sources under management (AUM) over the final 5 months, reaching upright over $100 million as native investors pursue the crypto rally.
Alessandro Zhu, who oversees crypto products and serves because the deputy head of mounted earnings at CSOP Asset Administration, attributed the high place a question to to the launch of put Bitcoin ETFs in the U.S., which the U.S. Securities and Change Payment well-liked in January this twelve months.
Besides the inexperienced light, Zhu says investors moreover consider that Bitcoin’s restricted present — which is capped at 21 million BTC — will drive prices bigger, because the finest crypto by market capitalization has already outperformed Hong Kong stocks.
That you just may moreover cherish: Virtually 10 hedge funds are space to launch put crypto ETFs in Hong Kong, HashKey says
With buying and selling volumes rising, the frequent each day turnover for the CSOP Bitcoin Futures ETF has reached the $2.8 million notice, representing a 188% amplify compared with $0.97 million final twelve months.
Hong Kong stays a hotspot for crypto-linked actions as more monetary institutions pivot in the direction of the metropolis. As crypto.knowledge reported, Harvest Fund Hong Kong recently filed for a put Bitcoin ETF with the Hong Kong Securities Regulatory Payment, per native authorities’ indications of willingness to approve put crypto ETFs.
Moreover, Harvest Fund’s subsidiary, Harvest Global Investments, is reportedly engaged in discussions with the Hong Kong Monetary Authority touching on deliberate stablecoin trials internal regulatory sandboxes.
Read more: Hong Kong to reportedly debut put crypto ETFs by mid-twelve months
