Hong Kong Solidifies Crypto Hub Status with Bitcoin ETF Growth

• Total Bitcoin holdings across three ETFs grew by 15.7%, reaching 4,500 BTC by September 2024.
• Bosera HashKey leads in AUM at $124.8M, while Harvest BitcoinSpot’s holdings and AUM declined.
• Hong Kong’s Bitcoin ETF market is expanding, driven by institutional and retail investor interest.

Hong Kong’s Bitcoin ETF market is gaining traction, with the combined holdings of the three major funds reaching 4,500 BTC, according to recent data. The ChinaAMC Bitcoin ETF (3042.HK), Harvest BitcoinSpot ETF (3439.HK), and Bosera HashKey Bitcoin ETF (3008.HK) have experienced varying trends in their Bitcoin holdings between April 30 and September 11, 2024.

ChinaAMC and Bosera HashKey have steadily increased their Bitcoin reserves. ChinaAMC’s holdings grew from 1,942 BTC in April to 2,328 BTC in September, while Bosera HashKey’s holdings increased from 957 to 1,673 BTC during the same period. In contrast, Harvest BitcoinSpot saw its holdings decrease from 989 to 499 BTC.

Bosera HashKey’s Bitcoin holdings experienced a significant surge on July 16, 2024, reaching a year-to-date high of 2,170 BTC. However, this was followed by a correction, with holdings falling to 1,632 BTC by August 22, 2024, highlighting the potential for market volatility.

Bosera HashKey currently leads in assets under management (AUM) with $124.8 million, closely followed by ChinaAMC with $121.3 million. Harvest BitcoinSpot trails behind with $42.7 million, reflecting its decline in Bitcoin reserves.

Overall Growth and Investor Interest

The total Bitcoin holdings across all three ETFs have increased by 15.7%, rising from 3,888 BTC in April to 4,500 BTC in September. The combined AUM now stands at $288.8 million, suggesting a growing appetite for these investment products.

While ChinaAMC and Bosera HashKey demonstrate growth, the weaker performance of Harvest BitcoinSpot underscores the challenges in attracting investor confidence. Overall, Hong Kong’s Bitcoin ETF market is expanding, with increasing interest from both institutional and retail investors.

Read also: Hong Kong Launches Sandbox to Drive Tokenization Adoption

Hong Kong’s launch of six spot Bitcoin and Ether ETFs earlier this year, a first for an Asian country, has established its position as a key player in the evolving digital asset market. The growing AUM and Bitcoin holdings in these ETFs further solidify Hong Kong’s role in the global crypto space.