In an exclusive report, Wu Blockchain has revealed that the issuer of the upcoming Hong Kong Bitcoin and Ethereum spot ETFs expects them to launch with a bang tomorrow.
The anticipated issuance scale of these ETFs is projected to reach $200 million to $300 million on their first day of trading. This figure dwarfs the $125 million achieved by their U.S. counterparts during their debut.
Exclusive: The issuer told WuBlockchain that the issuance scale of Hong Kong’s Bitcoin and Ethereum spot ETFs, which will be launched tomorrow at UTC+8, is expected to reach US$200 million to US$300 million, exceeding the first-day issuance scale of US$125 million in the United… pic.twitter.com/EGqVCCjcVb
— Wu Blockchain (@WuBlockchain) April 29, 2024
This news comes on the heels of the landmark approval of Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) earlier this year. However, despite this groundbreaking move, recent data has shown outflows from BTC ETFs in the U.S. market, as we reported this past weekend.
The imminent launch of these Hong Kong-based ETFs tracking the world’s two largest cryptocurrencies is poised to shake up the digital asset investment landscape. Their potential to surpass the initial success of U.S. offerings highlights the growing global appetite for regulated crypto investment vehicles.
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Show more +While the U.S. has taken a significant step forward in embracing crypto ETFs, the anticipated reception of these Hong Kong products underscores the fierce international competition in this nascent market.
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