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Hong Kong's turn. Trading for Asia's first spot crypto ETFs began early this morning in Hong Kong, offering investors a regulated avenue to buy instruments linked to both BTC and ETH. It was a historic debut, but how did it perform?
Despite hopes that there would be a flood of capital waiting to ape these newly established instruments given the recent Chinese appetite for gold, mainland investors are unable to purchase these newly established products, limiting their availability to a Hong Kong market that is just 1/168th the size of America's.
Accordingly, activity for these ETFs disappointed on an absolute scale; the combined $12.8 million in volume for both instruments fell short of the $655 million recorded on the debut of the US spot BTC ETFs and came in below issuer expectations for $100M in volume.
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