Hong Kong’s largest Bitcoin ETF assets up five-fold

In Hong Kong, which has adopted a positive attitude towards cryptocurrencies in the last 2 years, the interest in ETFs has started to increase with the US effect. The assets under management of the country’s largest ETF have grown 5 times since October.

Hong Kong’s largest Bitcoin ETF assets up five-fold

Hong Kong, where Bitcoin and Ether futures ETFs are traded, has also benefited from the US ETF craze. Interest in the CSOP ETF in the country, which is economically independent but administratively under Chinese control, has recently increased significantly.

The statement on the topic came from CSOP, the company that gave its name to the ETF. CSOP Asset Management announced that demand for the Bitcoin futures fund increased significantly, especially in February.

The assets under management of the firm’s ETF have increased 5-fold since October, reaching over $100 million yesterday.

Speaking to news agency Reuters, Alessandro Zhu, deputy head of fixed income at CSOP Asset Management, said that both the approval of US ETFs and the limited supply of Bitcoin have increased demand around the world:

“Bitcoin’s significant outperformance of Hong Kong stocks has also boosted demand from investors. Although cryptocurrency trading is banned in mainland China, offshore Chinese financial institutions could invest in bitcoin ETFs in Hong Kong.”

This year, the Hong Kong CMB is almost certain to approve Bitcoin spot ETFs.

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