The news that the first-day trading volume of six Bitcoin and Ethereum spot ETFs in Hong Kong exceeded HK$87.58 million has caused a stir in the financial market. This huge trading volume has attracted widespread attention in the digital currency market, especially before the listing in the United States, it has achieved such an amazing result in less than 1% of the time. The successful first-day trading of this digital currency ETF has attracted the attention of many investors and has also triggered more people's eager discussion on the future development of digital currency.

Digital currency ETF: the new favorite of the Hong Kong market

The first-day trading volume of digital currency ETFs reached HK$87.58 million, which is a figure that makes people excited. In Hong Kong, an international financial center, digital currency ETFs are gradually becoming the new favorite of investors. The successful trading of six Bitcoin and Ethereum spot ETFs has undoubtedly injected strong momentum into Hong Kong's digital currency market. Investors' enthusiastic investment in digital currency ETFs also reflects the market's confidence and expectations for the future of digital currency.

Digital currency ETF: unlimited market potential

The successful trading of digital currency ETFs in the Hong Kong market is not just a number, but also an affirmation of the potential of the digital currency market. As an emerging financial product, digital currency has broad market prospects and investors are full of confidence in its future development. As the digital currency market continues to mature and standardize, digital currency ETFs are expected to become an important choice for investors to diversify their asset allocation, bringing more investment opportunities and returns to investors.

Digital currency ETFs: Leading the wave of financial innovation

The hot trading of digital currency ETFs highlights the important position of digital currency in financial innovation. As an innovative financial tool, digital currency ETFs provide investors with a more convenient and flexible investment method, and also promote the further development of the digital currency market. The emergence of digital currency ETFs will further promote the integration of digital currency and traditional financial markets, and bring new development opportunities and challenges to the financial industry.

Digital currency ETFs: The future is promising

The successful trading of digital currency ETFs indicates that the future of the digital currency market is full of infinite possibilities. With the continuous innovation and improvement of digital currency technology, digital currency ETFs are expected to become an important part of the financial market, bringing more investment options and opportunities to investors. The rise of digital currency ETFs will lead the digital currency market into a new stage of development and open up a brand new investment world for investors.

Conclusion

The trading boom of digital currency ETFs in Hong Kong is not only a successful transaction, but also a re-verification of the potential of the digital currency market. The rise of digital currency ETFs indicates that the digital currency market is welcoming a broader space and opportunities for development. Investors' enthusiasm for digital currency ETFs also indicates a bright future for the digital currency market. Let us look forward to digital currency ETFs shining brighter in the financial market and bringing more surprises and gains to investors.

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Coin Circle (120bTC.coM): The six Bitcoin and Ethereum spot ETFs (Bosera International, China Asset Management, Harvest International) approved by the Hong Kong Securities Regulatory Commission were officially listed on the Hong Kong Stock Exchange yesterday (30), but they immediately encountered headwinds in the currency price. BTC once dropped to US$59,177 this morning, and is currently still striving to stabilize at the 60,000 mark.

The first-day trading volume of six ETFs was HK$87.58 million

According to statistics from the Hong Kong Stock Exchange, the total trading volume of the six ETFs on the first day was HK$87.58 million (approximately US$11.2 million), and the order of trading volume is as follows:

 Huaxia Bitcoin ETF (3042.HK) reached HK$37.16 million

 Huaxia Ethereum ETF (3046.HK) reached HK$12.66 million

 Harvest Bitcoin Spot ETF (3439.HK) reached HK$17.89 million

 Boshi HashKey Bitcoin ETF (3008.HK) had a transaction amount of approximately HK$12.44 million

 Harvest Ethereum Spot ETF (3179.HK) reached HK$4.95 million

 Boshi HashKey Ethereum ETF (3009.HK) reached HK$2.48 million

Compared with the total trading volume of more than US$4.6 billion on the first day (1/11) of the official trading of 11 Bitcoin spot ETFs in the United States, it is less than 1% of it.

However, at that time, Grayscale's GBTC trading volume accounted for about half (US$2.32 billion, mostly driven by profit-taking selling pressure), BlackRock's IBIT ranked second with US$1 billion, and Fidelity's FBTC ranked third with US$710 million in trading volume.

First-day trading volume of 11 Bitcoin spot ETFs in the United States

Now it seems that although Hong Kong's ETFs can use physical delivery, it does not seem to be a very big incentive to buy. On the other hand, investors in mainland China are not yet allowed to invest in Hong Kong's cryptocurrency spot ETFs. Will there be corresponding regulatory adjustments in the future to bring in more incremental funds? It still needs to be observed.

Current prices of six ETFs

According to data from the Hong Kong Stock Exchange, the current prices of the six ETFs as of the time of publication are as follows:

 Bosera Ethereum ETF (3009.HK) is currently priced at HK$24.8

 Bosera Bitcoin ETF (3008.HK) is currently priced at HK$49.58

 Harvest Ethereum ETF (3179.HK) is currently priced at HK$7.7

 Harvest Bitcoin ETF (3439.HK) is currently priced at HK$7.95

 Huaxia Ethereum ETF (3046.HK) is currently priced at HK$7.77

 Huaxia Bitcoin ETF (3042.HK) is currently priced at HK$7.95

Differences in the issuance mechanisms of the six spot ETFs

In terms of management fees:

 The annual management fee for Harvest Bitcoin and Ethereum spot ETFs is 0.3% of the net asset value, which is exempted from the first 6 months from the date of listing

 The annual management fee of Boshi Bitcoin and Ethereum spot ETF is 0.6% of the net asset value, and the fee will be temporarily waived from the listing date of April 30 to August 2024.

 The annual management fee of Huaxia Bitcoin and Ethereum spot ETF is 0.99%

In terms of issue price:

 The issue price of products under Harvest International and Huaxia (Hong Kong) is US$1 per share

 The initial issue price of Boshi Bitcoin and Ethereum spot ETF is basically consistent with 1/10000 and 1/1000 of the tracking index on April 26, 2024, respectively, that is, the converted net value of fund shares corresponds to the price of approximately 0.0001 Bitcoin and 0.001 Ethereum, which means that holding 10,000 shares is approximately equal to 1 Bitcoin, and 1,000 shares is approximately equal to 1 Ethereum.

From the perspective of trading units:

 The primary market application for Bitcoin/Ethereum spot ETF under Harvest International is at least 100,000 shares (or its multiples), and the minimum trading unit in the secondary market is 100 shares

 The primary market application for Bosera Bitcoin spot ETF is 50,000 shares (or its multiples), and the minimum trading unit in the secondary market is 10 shares. The primary market application for Ethereum spot ETF is 100,000 shares (or its multiples), and the minimum trading unit in the secondary market is also 10 shares.