- Hong Kong’s crypto ETFs had a soft debut, with trading volume much lower than expected.
- The total trading volume for bitcoin ETFs was $8.5 million, while ether ETFs saw $2.5 million.
As a crypto investor, I’ve noticed that the six listed crypto ETFs recorded impressive volumes, totaling around $11 million. Among them, bitcoin ETFs accounted for approximately $8.5 million, while ether ETFs contributed about $2.5 million. Initially, issuers had anticipated much higher volumes, with local media reports suggesting that they were expecting over $100 million in trades.
In Hong Kong’s financial market, Ether Exchange-Traded Funds (ETFs) are permitted due to differing views among regulators regarding the classification of ether as a security. Regulators in Hong Kong hold less apprehension on this matter compared to their counterparts in the United States.
As a researcher, I’ve been following the developments regarding a potential U.S. ether Exchange-Traded Fund (ETF). However, it seems that we’re not going to see its listing anytime soon. The reason being is that the Securities and Exchange Commission (SEC) has yet to provide clarity on their stance regarding ether being classified as a security or not.
As a crypto investor, I can tell you that Ether Exchange-Traded Funds (ETFs) are available for trading on the Toronto Stock Exchange. Notable issuers like Evolve and Purpose Investments have listed these ETFs, making it easier for investors to gain exposure to Ether without directly dealing with cryptocurrency exchanges.
On the initial day in the United States, the overall trading volume amounted to $655 million. The value of Bitcoin fell by more than 1% and was approximately priced at around $62,100 based on CoinDesk Indices information.
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2024-04-30 12:09