While the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States set a high bar with $4.6 billion in first-day trading volume, Hong Kong's new Bitcoin and Ethereum ETFs managed to hit $12 million in trading volume on their first day.

The six new crypto ETFs launched in Hong Kong are managed by China Asset Management, Harvest Global, Bosera, and HashKey. However, the trading volumes of these ETFs on the first day were relatively modest compared to their U.S. counterparts.

The Bosera HashKey Bitcoin ETF recorded 249,000 HK$ in first-day trading volume, while the Bosera HashKey Ether ETF produced 99,000 HK$ in trading volume. The China Asset Management (CAM) Bitcoin ETF saw 4.6 million HK$ in trading volume, while CAM's Ether ETF also recorded 4.6 million HK$ in trading volume.

Prior to trading, CAM's subscription size for its spot Bitcoin and Ethereum ETFs attracted $140 million. This suggests that while the trading volumes on the first day were not as high as in the U.S., there is significant investor interest in these ETFs in Hong Kong.

The Hong Kong Stock Exchange (HKEX) previously noted investor interest in its cryptocurrency futures ETFs, which attracted $529 million in net inflows in the first quarter of 2024. This positive reception adds to the excitement around the launch of the spot BTC and ETH ETFs in Hong Kong.