Spot Bitcoin exchange-traded funds (ETFs) in Hong Kong witnessed their second consecutive day of net outflows on Thursday since their debut on April 30, with approximately 90.16 BTC outflowing from the ETFs.
China Asset Management's spot Bitcoin ETF observed the majority of the outflows on Thursday, with 80.16 BTC leaving the product, as per data from SosoValue. Bosera HashKey Bitcoin ETF recorded an outflow of 10 BTC, while Harvest's spot Bitcoin ETF saw no inflows during the same period.
This recent trend represents a reversal from earlier patterns, as the three ETFs recorded net inflows of 101.6 BTC on Wednesday and 99.99 BTC on Tuesday. However, the funds experienced their first daily outflow on Monday, with an outflow of 75.36 BTC.
Despite the outflows, the combined assets under management for the three ETFs showed total net assets of approximately 4,260 Bitcoins and $261.45 million as of Thursday. This reflects a notable increase from the initial total net assets of $247.7 million recorded on the first day of trading.
Data from Farside Investors indicated that the three spot Bitcoin ETFs collectively experienced $5.5 million in total daily net outflows, highlighting a recent shift in investor behavior within the Hong Kong ETF market.
Bitcoin has seen a minor uptrend today, with its trading price reaching $63,246 USD at the time of writing.
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