Hong Kong ETF Flows Split on Bitcoin and Ethereum, Subdued in US

In Hong Kong's digital asset exchange-traded funds (ETFs) market, Bitcoin (BTC) ETFs received inflows while Ethereum (ETH) ETFs faced outflows on May 8. BTC ETFs collectively gained $6.3 million, led by Bosera's ETF with a $6.2 million inflow. In contrast, ETH ETFs witnessed outflows, with Bosera's ETF losing $0.9 million and AMC's ETF declining by $0.8 million. Overall, the BTC ETFs in Hong Kong have amassed $25.9 million in net inflows, while the ETH ETFs have seen a net inflow of $5.7 million.

Hong Kong ETF Market Exhibits Divergence in Bitcoin and Ethereum Flows

Hong Kong, May 10, 2023 - A recent analysis of exchange-traded funds (ETFs) tracking the performance of digital assets in Hong Kong reveals a notable divergence in flows between Bitcoin (BTC) and Ethereum (ETH) ETFs on May 8th.

According to data from Farside, an institutional-grade market surveillance and analytics platform for digital assets, BTC ETFs in Hong Kong experienced a collective inflow of $6.3 million on that day. Bosera's BTC ETF led the inflow with $6.2 million, bringing its total net inflows to $15.8 million. AMC's BTC ETF also saw a modest inflow of $0.1 million, totaling $3.6 million in net inflows. Harvest's BTC ETF remained flat on the day, with its total net inflow standing at $6.5 million.

In contrast, ETH ETFs in Hong Kong faced outflows on May 8th. Bosera's ETH ETF witnessed an outflow of $0.9 million, reducing its total net inflows to $8.1 million. AMC's ETH ETF experienced a similar outflow of $0.8 million, resulting in a net outflow of $2.2 million. Harvest's ETH ETF recorded a smaller outflow of $0.2 million, bringing its total net outflow to $0.2 million.

Overall, ETH ETFs in Hong Kong have seen a net inflow of $5.7 million, according to Farside data.

Combining both BTC and ETH ETFs in Hong Kong, Farside reports that the collective net inflows reached $31.6 million.

Subdued Activity in United States ETF Market

Activity in the United States ETF market was relatively subdued on May 8th. Bitwise's BITB ETF was the only ETF to register an inflow, amounting to $11.5 million, bringing its total net inflow to $1,759.6 billion. All other US ETFs saw no inflows or outflows.

Farside data indicates that the total net inflows for US ETFs stand at $11,778.2 billion.

Conclusion

The recent divergence in flows between BTC and ETH ETFs in Hong Kong suggests a differing investor sentiment towards these digital assets. While BTC ETFs continue to attract inflows, ETH ETFs have faced outflows. This may reflect varying perceptions of the current market conditions or shifting market dynamics.

Meanwhile, the subdued activity in US ETF markets on May 8th may indicate a period of consolidation or a lack of significant investment activity in the digital asset space.