Bloomberg ETF Analyst: Hong Kong Cryptocurrency ETF's first day of fundraising exceeded HK $2 billion, which offset the net outflow of the US market

Data show that Huaxia Bitcoin ETF, Huaxia Ether ETF first day of fundraising more than 1.10 billion Hong Kong dollars (equivalent to 140 million US dollars), plus the other two institutions (Bosera Funds, Harvest International Assets) of the total amount of fundraising, the first batch of cryptocurrency ETF fundraising scale of about 2 billion Hong Kong dollars (255 million US dollars), in addition to the newly launched six Bitcoin and Ether ETF in the first trading day recorded about 87.58 million Hong Kong dollars (about 12 million US dollars) trading volume, compared with the US market is not high. Bloomberg ETF analyst Eric Balchunas wrote on the X platform that the data performance of Hong Kong cryptocurrency ETF on the first day of trading is already a big number for the Hong Kong ETF market. If the trading volume is applied to the US ETF market in the same proportion, it is equivalent to 1.60 billion US dollars in the US market. However, Eric Balchunas said that the Hong Kong ETF was launched when the US cryptocurrency ETF slowed down, so its inflow of more than 200 million US dollars will be enough to offset the outflow of US ETF funds.