From Investing.com:

Hong Kong’s largest bitcoin futures exchange-traded fund has seen its assets under management grow to over $100 million, a five-fold increase in the past five months. The approval and launch of spot bitcoin ETFs in the U.S. have boosted demand, with Bitcoin gaining 45% this month, nearing record highs. Assets for CSOP Ether Futures ETF have also doubled this year, with increased volumes.

CSOP Asset Management mentioned that the significant outperformance of Hong Kong stocks has also driven demand for the bitcoin futures ETF. Despite cryptocurrency trading being banned in mainland China, offshore Chinese financial institutions can still invest in bitcoin ETFs in Hong Kong, contributing to the surge in volumes. Average daily turnover for the CSOP Bitcoin Futures ETF has increased to $2.8 million this year.

Market participants are anticipating the approval of the first spot bitcoin ETF in Hong Kong this year, as officials aim to develop the city as a hub for virtual assets. Kennix Chan, executive director of Victory Securities, noted a large number of spot bitcoin ETF applications to the Hong Kong Securities and Futures Commission, indicating promising signs for the market.



Read more at Investing.com: Hong Kong’s largest bitcoin ETF assets up five-fold since October By Reuters