Hong Kong Bitcoin and Ether ETFs witness massive outflows

Hong Kong's Bitcoin and Ether exchange-traded funds saw a huge exodus on Monday, with net outflows totaling a staggering $39M.
Dot
May 14, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Photo Source: Jievani Weerasinghe (Unsplash)

Hong Kong's Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) saw a huge exodus on Monday, with net outflows totaling a staggering $39M. This single-day outflow erased all gains accumulated since their launch on April 30.

As reported by investment management firm Farside Investors, all six of Hong Kong's Bitcoin and Ether ETFs experienced significant bleeding, with Bosera, ChinaAMC, and Harvest Global taking the brunt of the impact. Spot Bitcoin ETFs from these issuers suffered a combined net outflow of $32.7M, with ChinaAMC's Bitcoin fund bearing the heaviest loss at $15.5M. 



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Spot Ether ETFs faced a similar fate, with their net outflows reaching $6.6M. Akin to their BTC counterparts, Harvest Global and ChinaAMC emerged as the leaders in outflows in the Ether category, each witnessing withdrawals of roughly $3M.

The staggering outflows on Monday marked the third consecutive trading day of net losses for Hong Kong's crypto ETFs. So far, a total of $52.5M has been drained from the funds since May 9. 

Hong Kong Bitcoin and Ether ETFs witness massive outflows

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Contents
Photo Source: Jievani Weerasinghe (Unsplash)

Hong Kong's Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) saw a huge exodus on Monday, with net outflows totaling a staggering $39M. This single-day outflow erased all gains accumulated since their launch on April 30.

As reported by investment management firm Farside Investors, all six of Hong Kong's Bitcoin and Ether ETFs experienced significant bleeding, with Bosera, ChinaAMC, and Harvest Global taking the brunt of the impact. Spot Bitcoin ETFs from these issuers suffered a combined net outflow of $32.7M, with ChinaAMC's Bitcoin fund bearing the heaviest loss at $15.5M. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Spot Ether ETFs faced a similar fate, with their net outflows reaching $6.6M. Akin to their BTC counterparts, Harvest Global and ChinaAMC emerged as the leaders in outflows in the Ether category, each witnessing withdrawals of roughly $3M.

The staggering outflows on Monday marked the third consecutive trading day of net losses for Hong Kong's crypto ETFs. So far, a total of $52.5M has been drained from the funds since May 9. 

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

Hong Kong's Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) saw a huge exodus on Monday, with net outflows totaling a staggering $39M. This single-day outflow erased all gains accumulated since their launch on April 30.

As reported by investment management firm Farside Investors, all six of Hong Kong's Bitcoin and Ether ETFs experienced significant bleeding, with Bosera, ChinaAMC, and Harvest Global taking the brunt of the impact. Spot Bitcoin ETFs from these issuers suffered a combined net outflow of $32.7M, with ChinaAMC's Bitcoin fund bearing the heaviest loss at $15.5M. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Spot Ether ETFs faced a similar fate, with their net outflows reaching $6.6M. Akin to their BTC counterparts, Harvest Global and ChinaAMC emerged as the leaders in outflows in the Ether category, each witnessing withdrawals of roughly $3M.

The staggering outflows on Monday marked the third consecutive trading day of net losses for Hong Kong's crypto ETFs. So far, a total of $52.5M has been drained from the funds since May 9. 

Written by
Ayush Pande