AUM

The AUM of Hong Kong's virtual asset spot ETF is down 3% from the first day, falling to HKD 2.223 billion

ChainCatcher news, according to Ming Pao, the Hong Kong virtual asset spot ETF has gone through 12 trading days since its issuance, and the overall AUM of the ETF has not changed much. According to the Stock Exchange data, the total AUM once rose to a maximum of HKD 2.52 billion, and as of last Friday, it was HKD 2.223 billion, down 3% from the first day. Among them, only the Huaxia Bitcoin ETF had an AUM scale that reached HKD 1 billion, while the AUM of the Harvest Ethereum (3179) was the lowest among the six, approximately HKD 56 million as of last Friday. In addition, the Bitcoin ETF accounted for 85% of the total asset value, while the Ethereum ETF accounted for 15%, reflecting that Bitcoin is still the mainstream virtual currency. Furthermore, after the six ETFs had a first-day transaction of HKD 87.61 million, the trading weakened, with an average daily transaction of about HKD 41.03 million.Data shows that among the fund companies issuing virtual currency spot ETFs, Huaxia has the most market makers. As of May 8, and in HKD terms, the Huaxia Bitcoin had a total of 7 market makers; the Bosera HashKey Bitcoin ETF (3008) and Harvest Bitcoin (3439) had 6 and 4 respectively, and only the Huaxia Bitcoin had a market maker for its RMB counter.The data analysis platform Kaiko reported that the competition for virtual currency spot ETFs is heating up globally; however, the Hong Kong ETF market is much smaller than the U.S. market, resulting in a disparity in first-day trading volumes between Hong Kong and the U.S. Overall, the demand for virtual currencies in the Asia-Pacific region still seems strong. Wang Junjie, a partner at Yicai Investment Fund, believes that the small change in AUM is mainly because liquidity has not yet been released. If mainland investors and Hong Kong Stock Connect are allowed to purchase in the future, liquidity will greatly increase. He also pointed out that if the Ethereum ETF can innovate in the future to generate returns through proof of stake (PoS) for investors, this would be the world's first innovation, attracting many global Ethereum holders to invest and trade, leading to significant growth in AUM and trading volume later on.
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