In November, the trading volume for three Bitcoin ETFs on the Hong Kong Stock Exchange reached a record $154 million, indicating growing interest in these financial instruments.
Growth in Bitcoin ETF Trading Volumes
In November 2023, three Bitcoin ETFs in Hong Kong reached a combined trading volume of approximately HKD 1.2 billion, equivalent to $154 million. This is a record figure for the exchange, which only launched these instruments in May 2024.
Key Market Players
The main contributors to the volume growth were ChinaAMC Bitcoin ETF, Bosera Hashkey Bitcoin ETF, and Harvest Bitcoin Spot ETF. Particularly notable is ChinaAMC Bitcoin ETF, leading in terms of shares traded, with volumes reaching 2.02 million shares as of December 2.
Comparison with Global Markets
Despite the success in Hong Kong, the trading volumes of Bitcoin ETFs here are still significantly lower than in the US, where iShares Bitcoin Trust ETF and Grayscale Bitcoin Trust ETF show higher average volumes.
The increase in Bitcoin ETF trading volume on the Hong Kong Stock Exchange confirms significant market development for cryptocurrency instruments in the region, although still lagging behind the figures of the world's largest exchanges.
