On Thursday, Hong Kong's three spot bitcoin exchange-traded funds (ETFs) experienced a net outflow of 25.63 BTC, while the region’s spot ether ETFs reported zero new flows. The outflow from the bitcoin ETFs was entirely attributed to the product managed by China Asset Management, according to data from SosoValue. As of Thursday, the total net assets of the three spot bitcoin ETFs stood at $254.74 million.

In contrast, the city's three spot ether ETFs, which had brought in 62.8 ETH on Wednesday, saw no new flows on Thursday. These ether ETFs had total net assets amounting to $50.83 million as of the latest data.

Meanwhile, in the U.S., the trend was markedly different. The 11 spot bitcoin ETFs in the U.S. reported their ninth consecutive day of inflows on Thursday, attracting $107.91 million. This comes amid the U.S. Securities and Exchange Commission's (SEC) approval of 19b-4 forms for eight spot Ethereum ETFs, reflecting shifting political dynamics among lawmakers.

Justin d'Anethan, head of APAC business development at crypto market maker Keyrock, provided insights into the differing performances of the ETFs. "Admittedly, the ETH spot ETF in Hong Kong accounts for about 15% of the total local spot ETF assets under management (AUM), with the rest allocated to BTC," d'Anethan told The Block. "This disparity may be due to the fact that, so far, no staking reward is offered for spot ETH ETFs, making them a relatively inferior investment product compared to native tokens."

At the time of publication, bitcoin was trading down 3% over the past 24 hours at $67,254, while ether saw a slight decline of 0.51%, trading at $3,746, according to The Block’s price page.

These developments highlight the varying investor sentiments and market dynamics between Hong Kong and the U.S. as regulatory landscapes and product offerings continue to evolve in the cryptocurrency sector.