Hong Kong Bitcoin spot ETFs set new record for monthly trading volume with $154m

Monthly trading volume of three Hong Kong Bitcoin spot ETFs rose to $154 million in November, setting a new record on the Hong Kong Stock Exchange.

The total monthly trading volume of three Bitcoin spot ETFs in Hong Kong reached nearly HKD 1.2 billion, or $154 million, in November, setting a new monthly trading volume record, according to data from the Hong Kong Stock Exchange.

The three main Hong Kong Bitcoin (BTC) spot ETFs that reached this record high are the ChinaAMC Bitcoin ETF, Bosera Hashkey Bitcoin ETF, and Harvest Bitcoin Spot ETF. This milestone is particularly groundbreaking given that Hong Kong has just launched Bitcoin ETFs in early May 2024.

Last month, ChinaAMC and Harvest International’s monthly trading volume alone contributed about 88% of the total trading fund, which was around HKD 1.06 billion ($136 million).

According to the latest data from the site, the largest contributor to trading volume today is ChinaAMC Bitcoin ETF, which was launched under the Huaxia Fund, seeing a total trading volume of 2.02 million shares on December 2. Bitcoin ETF shares are currently trading at HKD 11.89.

Harvest Bitcoin Spot ETF is in second place today with a trading volume of 162,500 shares valued at HKD 11.96 each.

Meanwhile, Bosera Hashkey Bitcoin ETF saw total volume of 64,680 shares today. At the time of writing, shares issued by Bosera Asset Management are currently trading at HKD 74.58.

However, the daily trading volume of Hong Kong Bitcoin spot ETFs is still far behind US-based Bitcoin ETFs such as the iShares Bitcoin Trust ETF and Grayscale Bitcoin Trust ETF, which have average volumes of 40 million shares and 3.8 million shares, respectively.

The Hong Kong government approved the launch of Bitcoin spot ETFs in April, following more than a year of concerted efforts by Hong Kong to establish itself as a tightly regulated hub for the virtual asset industry.

On May 6, exchange-traded funds in Hong Kong recorded their first cumulative fund outflow.