Hong Kong’s CSOP Bitcoin Futures ETF Sees 5-Fold Surge in Sources Amid BTC Rally

CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its replace-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in property under management (AUM) at some level of the final five months.

The ETF’s Sources Beneath Management (AUM) has soared five-fold to over $100 million.

Rising Procuring and selling Volumes and AUM

Concerning trading volumes, the CSOP Bitcoin Futures ETF has increased in life like each day turnover, reaching $2.8 million this year in contrast to $0.97 million closing year.

The relate in AUM is no longer miniature to Bitcoin by myself; the CSOP Ether Futures ETF (3068.HK) has also experienced a surge in AUM, doubling over this year.

As famed by Alessandro Zhu, Deputy Head of Mounted Profits at CSOP Asset Management, the surge in review of has primarily been pushed by diverse factors. These encompass the unique approval and begin of space Bitcoin ETFs in the U.S., which have sparked investor enthusiasm due to the perceived probably for further designate appreciation attributable to BTC’s miniature present.

Bitcoin’s stable performance relative to Hong Kong stocks on the Dangle Seng Index (.HSI) has also amplified investor hobby in the asset.

Zhu also famed that in spite of cryptocurrency trading being prohibited in mainland China, offshore Chinese language monetary institutions were actively investing in Bitcoin ETFs in Hong Kong, taking perfect thing in regards to the metropolis’s regulatory framework. This influx of institutional capital and the rising retail hobby have propelled the CSOP Bitcoin Futures ETF to unique heights.

Market Avid gamers Quiz Crypto-Friendly Future

Market participants await further developments in the Hong Kong ETF panorama, with expectations rising for approving the first space Bitcoin ETF.

Kennix Chan, executive director of Victory Securities, highlighted the promising indicators, citing a significant sequence of space Bitcoin ETF beneficial properties submitted to the Hong Kong Securities and Futures Price in contemporary months.

Amidst these developments, Hong Kong continues to solidify its space as a hotspot for crypto-associated actions. Harvest Fund Hong Kong currently filed for a space Bitcoin ETF with the Hong Kong Securities Regulatory Price.

Meanwhile, discussions are underway between Harvest World Investments, a subsidiary of Harvest Fund, and the Hong Kong Financial Authority concerning planned stablecoin trials inner regulatory frameworks.