Hong Kong BTC and Ethereum ETFs listed: Will first-day trading volume surpass that of the United States?

Source: Blockchain Knight

As Hong Kong prepares for the debut of its first spot BTC and Ethereum ETFs, expectations are soaring that initial trading volumes will surpass those of the United States, local media reported on April 29.

China Asset Management (Hong Kong) and digital asset service provider OSL are leading the launch of these ETFs, which will be listed on the Hong Kong Stock Exchange on April 30.

China Asset Management's head of digital assets, Zhu Haokang, expressed confidence in the ETFs' potential at a press conference on the eve of the launch, expecting first-day trading volumes to exceed $1.25, surpassing the trading volume of the spot BTC ETF launched in the United States in January this year.

Zhu Haokang said that the funds have received strong attention from investors before their launch, and the ETFs offer both cash and physical redemption options, which further boosted investor interest.

In addition, Zhu Haokang added: "We expect to set a new record for ETF debuts in Hong Kong."

Meanwhile, Wayne Huang from OSL detailed operational preparations and stressed that a large amount of funds have been mobilized to prepare for the listing.

Wayne Huang said: "Pre-market trading indicates strong market demand, which is expected to continue until the first day of official trading."

These ETFs are the first products in Asia to provide BTC and Ethereum spot trading directly through an exchange, and are designed to attract local and international investors by providing a more flexible investment mechanism than similar products in the United States.

The launch of the fund is seen as a key moment for Hong Kong's digital asset market, positioning Hong Kong as a leading global financial center in the emerging digital asset sector.

Both China Asset Management and OSL highlighted the regulatory clarity and innovative trading features of their products as key factors that are expected to drive their success and attract different investor groups, including those from regions such as Singapore and the Middle East where there are no spot ETFs.

Meanwhile, some analysts recently predicted that the Hong Kong-based BTC ETF is unlikely to see total inflows of more than $1 billion in its first year, based on the size of the market and the fact that mainland Chinese investors are not allowed to participate in it.