Hong Kong Bitcoin ETFs Reach $269 Million in Assets Despite Slower Growth

Hong Kong’s spot Bitcoin ETFs have reached over 2 billion Hong Kong dollars (around $256 million) in assets under management (AUM).

Although the growth has been slower compared to the U.S. market, recent data shows an inflow of approximately 247 BTC into Hong Kong’s three spot Bitcoin ETFs over the past week, bringing their total holdings to about 4,450 BTC. The combined AUM for these ETFs now stands at around HK$2.1 billion ($269 million).

Among these, ETFs managed by China Asset Management and Harvest Asset Management, in collaboration with the digital asset platform OSL, dominate with more than HK$1.3 billion ($167 million) in AUM. A third ETF, not connected to OSL, holds HK$776 million ($99.5 million), making up around 42% of the market.

Hong Kong’s Bitcoin ETFs have faced challenges in gaining traction compared to their U.S. counterparts. When they launched on April 30, they drew in $262 million in the first week, with most of that amount coming before the listings went live.

However, actual asset inflows during that first week were only $14 million, significantly lower than the billions that flowed into U.S. Bitcoin ETFs during their launch in January. This highlights Hong Kong’s struggle to position itself as a key player in the global crypto investment scene.

According to Bloomberg ETF analyst Rebecca Sin, Hong Kong’s in-kind ETF creation model provides a chance to boost AUM and trading volume. Yet, the city still lags behind the U.S. in attracting investor interest and capital.