MuhammadFaisal
Hong Kong is a Special Administrative Region (SAR) of China, operating under the “one country, two systems” principle. While China has been more restrictive regarding cryptocurrency, Hong Kong has taken a different approach, becoming a hub for cryptocurrency since 2010. It was around this time that some of the early exchanges, such as Gatecoin and Bitfinex, established their bases in Hong Kong.
Over time, Hong Kong also approved the three BTC spot ETFs (ChinaAMC Bitcoin ETF, Bosera Hashkey ETF, and Harvest) in April 2024 but the adoption was not as wide as in the USA. ChinaAMC Bitcoin ETF was always on top by volume.
On August 22, the ChinaAMC Bitcoin ETF saw its largest single day of inflows since July 12th (612.24 BTC), as it received 274 bitcoins worth about $15 million. Although the inflow is not big compared to the previous ones, this is the highest inflow this month. The other two ETFs did not get any inflow today.
The total assets under management across the three Hong Kong Spot Bitcoin ETFs are approximately 4,450 BTC worth around $270 million (source). This shows that the buying interest of Asian institutional investors is increasing over time.
