Bitcoin and Ethereum ETFs Experience Significant Outflows in Hong Kong Market

Hong Kong's spot Bitcoin and Ethereum exchange-traded funds (ETFs) witnessed substantial outflows during the latest trading session, according to data from Farside.

On Monday, three Bitcoin funds—Borsera, AMC, and Harvest—recorded outflows amounting to $32.7 million, the largest since their inception. These funds currently manage approximately $247 million in Bitcoin assets (AUM).

Ethereum ETFs also saw notable outflows, with $6.6 million withdrawn from the funds. The total AUM for these Ethereum ETFs now stands at nearly $45 million.

In total, the combined outflows for Bitcoin and Ethereum ETFs in Hong Kong reached $39.3 million.

There are ongoing discussions about the potential for mainland Chinese investors to access Hong Kong's newly launched crypto ETFs. A recent report from the South China Morning Post (SCMP) highlighted that these crypto ETFs are "technically" accessible to mainland Chinese investors. Mainland investors with Hong Kong bank accounts could potentially buy shares if they meet the KYC (know-your-customer) requirements. However, stringent KYC procedures present a challenge, as not all brokerages accept mainland ID cards.

Additionally, despite the possible access to Hong Kong ETFs, the ban on commercial crypto trading within mainland China remains enforced. Bloomberg analyst Eric Balchunas previously noted this trading ban as a significant obstacle.

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