Bloomberg ETF analyst: We need to readjust our view on Hong Kong’s virtual asset ETF market

Golden Finance reported that Eric Balchunas, senior analyst at Bloomberg ETF, wrote on the X platform that it had been predicted that it would take two years for the Hong Kong virtual asset ETF market to reach the $1 billion level, but it hit $292 million on the first day, which means that the view of the Hong Kong virtual asset ETF market needs to be readjusted. In addition, the Ethereum ETF accounts for 15% of the Hong Kong virtual asset ETF market share. In terms of attracting investors on the first day, scale seems to be more important than lower fees. The higher-fee Huaxia Bitcoin ETF (3042 HK) led the gains with $124 million, while the Harvest Bitcoin Spot ETF (3439 HK) attracted $63 million and the Boshi Hashkey Bitcoin ETF (3008 HK) attracted $61 million.