Despite regulatory clarity, Hong Kong crypto ETFs experience lukewarm demand
The daily trading volume of all Hong Kong crypto exchange-traded funds averaged about $1.19 million between December and early February. According to a report published by the Hong Kong Stock Exchange (HKSE), two Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in "seizing opportunities in virtual asset development." However, the numbers appear somewhat lukewarm when viewed in a global context. On Apr. 17, Cointelegraph reported that Bitcoin and Ether futures and options listed on the United States-based CME Group surpassed $3 billion in daily average notional value. Similarly, the ProShares Bitcoin Strategy ETF listed on NYSE Arca has an average daily volume of approximately $196 ...