The debut of the new Bitcoin Spot ETFs in Hong Kong has recorded a trading volume below expectations. Not only that, but the price of BTC has been in a dump in the last month, down by 11%, slipping below the $62,000 mark.
Hong Kong: the debut of spot Bitcoin ETFs seems to be disappointing
Disappointing debut in Hong Kong, where the first spot Bitcoin ETFs and spot Ethereum ETFs have been approved for a couple of weeks.
And indeed, it seems that the trading volume recorded by the brand new Exchange-Traded Funds on cryptocurrencies has just exceeded 11 million dollars, a much lower amount than expected.
Specifically, the total volume of trades for Bitcoin ETFs was $8.5 million, while Ethereum ETFs recorded $2.5 million.
Basically, for the six approved and listed ETFs, expectations for their initial volume were over 100 million dollars.
After all, comparing with the United States, on the first day of trading of the 11 ETFs on Bitcoin spot issued, the total trading volum
We współpracy z: https://en.cryptonomist.ch/2024/04/30/hong-kong-volume-of-bitcoin-etf-trading-lower-than-expected/
