Hong Kong’s Spot Bitcoin ETFs Reach Over $256 Million in AUM

Key Takeaways

• The ChinaAMC Bitcoin ETF is the largest among the three, managing over $141 million in net assets. 
•  The three spot BTC ETFs in Hong Kong experienced a net inflow of approximately 247 BTC in the past week

Hong Kong’s spot Bitcoin exchange-traded funds (ETFs) have now amassed over 2 billion Hong Kong dollars (about $256 million) in assets under management (AUM). 

On August 22, the ChinaAMC Bitcoin ETF reported a notable inflow, adding 274 Bitcoin, equivalent to around $15 million. This marks the fund’s largest single-day inflow since July 12. Meanwhile, the two other spot Bitcoin ETFs in Hong Kong, Bosera Hashkey and Harvest, did not record any new inflows on the same day.

Earlier this year, Hong Kong approved its first three spot Bitcoin ETFs, following similar approvals in the U.S. and Europe. These financial products allow investors to gain exposure to Bitcoin without holding the digital asset directly, offering a regulated way to participate in the cryptocurrency market.

Despite Hong Kong’s smaller trading volumes compared to the U.S., inflows into these ETFs have been steadily increasing. The ChinaAMC Bitcoin ETF is the largest among the three, managing over $141 million in net assets. Bosera Hashkey and Harvest ETFs hold around $99 million and $30 million, respectively.

Together, these three spot Bitcoin ETFs in Hong Kong now manage approximately 4,450 BTC, with total assets valued at roughly 2.1 billion HKD (around $269 million). According to SoSo Value data, these ETFs saw a net inflow of around 247 BTC in the past week, boosting their total holdings.

The ETFs from China Asset Management and Harvest Asset Management, operated alongside the digital asset trading platform OSL, make up more than $167 million of the total AUM. The third ETF, not linked with OSL, managing 776 million HKD ($99.5 million), accounting for roughly 42% of the market share.

Despite the positive growth, Hong Kong’s spot Bitcoin ETFs have underperformed relative to their U.S. counterparts. When these ETFs launched on April 30, they attracted $262 million in AUM within the first week, largely due to pre-listing subscriptions. However, the actual inflows during that first week amounted to just $14 million, a stark contrast to the billions of dollars that poured into U.S. spot Bitcoin ETFs earlier this year.

At the start of the year, the U.S. Securities and Exchange Commission (SEC) gave the green light to a range of spot Bitcoin ETFs, marking a significant shift after years of anticipation and numerous rejected applications. Initially, only Bitcoin futures ETFs, which track the price of Bitcoin futures contracts rather than Bitcoin itself, were available in the U.S.

While Hong Kong investors have fewer Bitcoin ETF options compared to the 11 available in the U.S., the steady rise in inflows suggests increasing confidence in these financial instruments.