Despite regulatory clarity, Hong Kong crypto ETFs experience lukewarm demand

According to a report published by the Hong Kong Stock Exchange (HKSE), 2 Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed connected HKSE averaged 9.30 cardinal Hong Kong dollars ($1.19 million) successful regular trading measurement from Dec. 16, 2022, to Feb. 7, 2023. As the archetypal portion successful Asia to supply specified entree to crypto ETF products, Hong Kong speech operators praised regulator clarity for its relation successful "seizing opportunities successful virtual plus development."

However, the numbers look somewhat lukewarm erstwhile viewed successful a planetary context. On Apr. 17, Cointelegraph reported that Bitcoin and Ether futures and options listed connected the United States-based CME Group surpassed $3 cardinal successful regular mean notional value. Similarly, the ProShares Bitcoin Strategy ETF listed connected NYSE Arca has an mean regular measurement of astir $196 million.

Interestingly, dissimilar Hong Kong, the U.S. lacks regulatory clarity regarding crypto ETFs. While the U.S. Securities and Exchange Commission has approved futures-based Bitcoin ETFs, specified arsenic the ProShares Bitcoin ETF, it has denied the conversion of Grayscale Bitcoin Investment Trust (GBTC), the largest over-the-counter Bitcoin money successful the country, to a listed spot ETF. Similarly, the Commission denied the listing application of Ark Investment Management's ARK21 Shares Bitcoin ETF. 

One of the Bitcoin ETFs included successful the HKSE study is that of the Samsung Bitcoin Futures Active ETF, created by the concern absorption limb of the South Korean conglomerate. The merchandise is designed to fulfill the needs of organization investors who privation to commercialized Bitcoin futures portion successful an Asia-Pacific clip zone.

Magazine: Samsung’s Bitcoin ETF, $700M bust, Coinbase exits Japan