According to a recent report from TheBlock, the general manager of OSL, Ryan Miller, anticipates that the trading volume and capital inflows associated with the Hong Kong Crypto ETF will achieve substantial growth. This optimism follows the successful introduction of the U.S. Bitcoin Futures ETF, which paved the way for Hong Kong to launch its six Bitcoin and Ethereum Futures ETFs in April 2024. As of December 11th, the Hong Kong Bitcoin Futures ETF has amassed 4,560 BTC, amounting to approximately $4.446 billion, while the Ethereum counterpart holds about 16,280 ETH valued at $59.6 million. Miller noted that the ratio of cryptocurrency ETFs to their respective stock markets shows similar performance trends between the U.S. and Hong Kong. Currently, the U.S. Crypto Futures ETF valuation stands at roughly $5.47 billion, which constitutes 0.019% of the market value of major exchanges like the New York Stock Exchange and Nasdaq. In contrast, the market size of the Hong Kong Crypto Futures ETF is around $3.5124 billion, juxtaposed against the Hang Seng Index’s market value of $15.2 trillion. Notably, December 6th marked a historic high for trading volumes in Hong Kong’s Crypto Futures ETF, surpassing $58 million. Driven by robust regulatory backing and a surge in investor interest, it is anticipated that Hong Kong’s cryptocurrency ETFs are poised to flourish in the rapidly evolving global crypto arena.
Source: https://en.coinotag.com/breakingnews/significant-growth-expected-for-hong-kong-bitcoin-futures-etf-amid-rising-trading-volume-and-investor-interest/