Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes
Market stakeholders believe that the Hong Kong ETFs would still have a significant impact on the market, regardless.
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The global crypto market cap is $2.21 trillion, with a 24-hour volume of $79.4 billion. The price of Bitcoin is $60,603.62, and BTC market dominance is 53.8%. The price of Ethereum is $2,989.15, and ETH market dominance is 16.3%. The best-performing sector is Jobs, which gained 6%. The Crypto Fear & Greed Index is currently Greed (67).
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Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes
Market stakeholders believe that the Hong Kong ETFs would still have a significant impact on the market, regardless.
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I just hope this change will have a dent on the crypto market. The debut of Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong fell short of expectations, with modest trading volumes totaling 87.58 million HKD, significantly below the anticipated $100 million mark.
Compared to the US debut, which saw $4.6 billion in trading volume across 11 listed spot Bitcoin ETF products, the Hong Kong launch pales in comparison, raising questions about investor appetite and market dynamics. While some ETFs, like China Asset Management's "ChinaAMC Bitcoin ETF," showed promising initial trading volumes, stakeholders remain cautiously optimistic about the long-term market impact, particularly in expanding investor bases and ensuring market stability through compliance standards and currency accessibility.