The listing of spot ETFs in Hong Kong has not had a significant impact on futures ETFs

After the Hong Kong market launched a total of 6 Bitcoin and Ethereum spot ETFs at the end of last month, plus the original 3 futures ETFs, there are currently 9 in total, the most in Asia. It has been pointed out earlier that spot ETFs are competitive products of futures ETFs, and with low management fees, it is not ruled out that some funds will flow out of futures ETFs; however, judging from the recent average daily turnover or capital flow, spot ETFs The listing of ETFs has not had a significant impact on futures ETFs; at the same time, the trading activity of Bitcoin-related ETFs is also significantly better than that of Ethereum-related ETFs. If we look at the average daily trading volume, according to Bloomberg data, since the spot ETF was listed for more than a week (from April 30 to May 9), the average daily trading volume of the CSOP Bitcoin Futures ETF (3066) has reached 6,071 10,000 Hong Kong dollars ranked first, accounting for 50% of all virtual asset ETFs; China Bitcoin ETF ranked second with an average daily trading volume of 18.86 million Hong Kong dollars, accounting for 16%; Harvest Bitcoin Spot ETF ranked third with 14.57 million Hong Kong dollars, Accounting for 12%. Among the Ethereum ETFs, Boshi HashKey Bitcoin ETF (3008) has the largest average daily trading volume of HK$8.12 million (accounting for 7%); CSOP Ethereum Futures ETF (3068) ranks second with HK$7.82 million. (accounting for 6%). From the perspective of capital flow, recent market fluctuations have not changed the attractiveness of funds. From May 2 to May 9, virtual asset ETFs listed in Hong Kong received a total of HK$254 million in capital inflows. Last Thursday (9th) ) reached a peak in capital flows in the past week, with an inflow of nearly HK$140 million, of which the CSOP Bitcoin Futures ETF received a single-day net inflow of HK$193 million. CSOP said that the ETF craze in the first quarter of this year pushed Bitcoin to a record high, rising more than 67%. Although factors such as rising geopolitical risks and the failure of expectations for an interest rate cut by the Federal Reserve in April increased market risk aversion. and Bitcoin's correction of more than 15%, but the quadrennial "Bitcoin halving" event still brings positive catalysts to Bitcoin's performance. At the same time, more and more traditional financial participants are joining the virtual asset ecosystem and related demands It is also expected to form support. (Sing Tao Headlines)