Hong Kong Crypto ETFs Suffer Largest Outflow
On Monday, May 13, Hong Kong’s Bitcoin and Ether exchange-traded funds (ETFs) experienced their most significant net outflow since their inception less than two weeks ago, erasing all their initial gains.
The spot Bitcoin ETFs managed by Bosera, ChinaAMC, and Harvest Global reported combined net outflows of $32.7 million. Among these, the ChinaAMC Bitcoin fund suffered the most, with outflows totaling $15.5 million for the day, as per data from Farside Investors.
Similarly, the spot Ether ETFs from the same managers recorded a total net outflow of $6.6 million, with Harvest Global and ChinaAMC seeing the largest withdrawals at $3 million each.
As of that Monday, since their market debut on April 30, the cumulative outflows from all funds amounted to $20.9 million.
This figure surpasses their total inflows, which stood at $18.4 million as of the previous Friday, May 10.
