Hong Kong-Based BTC ETFs Surpass $270M in AUM, Still Lag Their US Counterparts

With crypto ETFs becoming an important narrative of the industry, those offered in the US make the news on a near-daily basis due to their popularity.

Hong Kong-based bitcoin exchange-traded funds (ETFs) have now crossed $270 million in assets under management (AUM), as reported by HashKey on August 24.

These ETFs were launched earlier this year, in April, but it took them longer to register substantial inflows than their BTC ETF counterparts in the US.

Hong Kong regulators have approved three funds so far, including ETFs from China Asset Management, Harvest Asset Management, and Bosera Asset Management.

The first two asset managers offer their ETFs in partnership with crypto exchange OSL, while the third collaborates with another exchange, HashKey.

The ETFs offered by the three asset managers saw inflows of 247 BTC last week, bringing their total holdings to 4,450 BTC. As markets closed on August 23, this amounted to around $272 million, or over HK$2 billion, in fiat terms.

The ChinaAMC BTC ETF alone holds $141.92 million (over HK$1 billion). The Bosera HashKey ETF manages just under $100 million, and the Hashkey ETF oversees $30.58 million.

BTC ETFs in the US Still Dominate

Currently, investors in Hong Kong have a limited range of options — three — compared to the 11 BTC ETFs offered in the US. Many wonder if the net inflows into the city’s BTC ETFs are also not as significant as those registered by the funds in the US because of the fewer options, which amount to a massive $58 billion.

Even the disparity behind the net inflows observed by the ETFs in the different jurisdictions was vast. Hong Kong-based ETFs registered tens of millions of dollars, while US-based ones saw billions. This highlights how the city must build investor interest to achieve its goal of becoming a massive crypto hub in Asia.

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