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Hong Kong-listed spot Bitcoin and Ether exchange-traded funds (ETFs) experienced significant outflows on Monday, May 13. The ETFs saw a total outflow of $39.3 million, with Bitcoin ETFs accounting for $32.7 million of the outflows. This marks the highest total outflow for these institutional products since their launch. The Bitcoin Spot ETF had a net redemption of 519.5 Bitcoins, with the total number of Bitcoins held dropping to 3,560 from 3,636. The single-day turnover was $4.25 million, and the total net assets were $219 million. Ether ETFs also saw record outflows. The outflows have wiped out all inflow gains since the ETFs' debut.
NEW: 🇭🇰 Hong Kong #Bitcoin spot ETFs saw outflows of 💵 $32.7M on Monday, significantly higher than typical outflows of around $6M. Notably, all six cryptocurrency ETFs recorded negative flows for the first time since launching on May 2. https://t.co/oIu9fWerxO
NEW: Monday saw all 🇭🇰 Hong Kong #Bitcoin ETFs experience significant outflows 👀 The net outflow of -$32.7M marked the largest on record. These substantial outflows caused the cumulative flow (excluding seed) to turn negative 😮 https://t.co/ZGUrNPuDsF
🩸 Hong Kong ETFs are gasping for breath! After Bitcoin dropped under $61k, Hong Kong’s spot Bitcoin and Ether ETFs saw heavy outflows of $32.7 million on Monday. This number is much higher than previous outflows, recorded around $6 million. It is also the first time all 6…
