Despite regulatory clarity, Hong Kong crypto ETFs experience lukewarm demand By Cointelegraph
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According to a report published by the Hong Kong Stock Exchange (HKSE), two (BTC) exchange-traded funds (ETF) and an Ether (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in “seizing opportunities in virtual asset development.”
However, the numbers appear somewhat lukewarm when viewed in a global context. On April 17, Cointelegraph reported that Bitcoin and Ether futures and options listed on the United States-based CME Group (NASDAQ:) surpassed $3 billion in daily average notional value. Similarly, the ProShares Bitcoin Strategy ETF listed on NYSE Arca has an average daily volume of approximately $196 million.
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According to a report published by the Hong Kong Stock Exchange (HKSE), two (BTC) exchange-traded funds (ETF) and an Ether (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in “seizing opportunities in virtual asset development.”
However, the numbers appear somewhat lukewarm when viewed in a global context. On April 17, Cointelegraph reported that Bitcoin and Ether futures and options listed on the United States-based CME Group (NASDAQ:) surpassed $3 billion in daily average notional value. Similarly, the ProShares Bitcoin Strategy ETF listed on NYSE Arca has an average daily volume of approximately $196 million.
Continue Reading on Coin Telegraph
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