After Anticipation of US Regulatory Approval: Ethereum ETFs in Hong Kong experience a 18% Increase in Value

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In a significant development for the recently approved Ethereum ETFs in Hong Kong, the ETF product launched by Chinese fund manager ChinaAMC has seen a significant increase in net inflows, reaching over HK$5 million (US$640,780) as of mid-day Wednesday.  This surge follows a previous high of HK$3.

According to a South China Morning Post report, on Tuesday, the ETF witnessed over 1.28 million shares being traded, surpassing the average daily trading volume of around 500,000 since its launch on April 30.

Grayscale’s ETF, the Grayscale Bitcoin Trust (GBTC), had a single-day net outflow of $0.00, BlackRock’s ETF IBIT had a single-day inflow of $290 million, and the total net asset value of Bitcoin spot ETF was $58.910 billion.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: HungaryChinaHong KongUnited States

Topics: Spot Ethereum ETFs Crypto Crypto news ETH DeFi Spot Ethereum ETF Hong Kong Ethereum etf ETHUSDT Digital currency Ethereum Ethereum ETF news Ethusd Ethereum ETFs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-23 @ 00:00:43 (1 months ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 495 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21061247

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