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Hong Kong’s cryptocurrency investment scene celebrates a significant milestone as the total assets under management for its Bitcoin ETFs exceeded HK$2 billion ($256 million). This surge reflects heightened investor confidence and interest, showcased by a notable 5.9% weekly increase in holdings, now totaling approximately 4,450 BTC across three spot Bitcoin ETFs.
Despite a slow initial uptake compared to the US, recent data indicates substantial growth with two major ETFs managed by China Asset Management and Harvest Asset Management dominating the market. Together, they account for over 63% of the total, highlighting investor trust in their operational capabilities amidst limited market options.
This achievement positions Hong Kong closer to becoming a global hub for cryptocurrency investments, despite earlier challenges in matching the US market’s rapid inflow of capital. The city’s unique ETF creation model continues to attract growing interest, setting the stage for further expansion.
