Autor Cointelegraph By Zhiyuan Sun

Hong Kong crypto ETFs’ rise to popularity

During a June 28 interview with Hong Kong’s public broadcast agency, Radio Television Hong Kong, Hang Seng Investment Management chief executive and board member Peishan Li disclosed that digital asset ETFs listed in the special administrative region of China have surpassed $12 billion Hong Kong dollars ($1.532 billion) in assets under management. Li noted:

“At present, there is no clear goal [from our firm] to create an ETF with the theme of virtual assets, but it has paid close attention to the development of related asset classes, and is examining the possibility of deploying virtual currencies in existing investment products.”

According to figures provided by Li, the total AUM of Hong Kong crypto ETFs grew by 80% compared with December 2022, with a daily trading volume of 1.7 billion HKD. This represents 6% of the daily trading volume of all stocks on the Stock Exchange of Hong Kong. The SAR previously allowed the listing of crypto ETFs in July 2022, which initially struggled to gain traction.