Hong Kong Bitcoin and Ethereum ETFs face record single-day outflows
May 13 marks largest single-day outflow for Hong Kong's digital assets ETFs, totaling $39.3M.
Quick Take
According to Farside data, the Hong Kong (HK) Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) experienced the largest single-day outflow since launch.
BTC ETFs
Farside data reports that the BTC ETFs witnessed a staggering $32.7 million in combined outflows on May 13, marking the largest single-day outflow since their launch.
AMC saw a $15.5 million outflow, bringing its total outflows to $16.8 million. Meanwhile, Harvest recorded a $9.8 million outflow, and Bosera experienced an outflow of $7.4 million — bringing the two companies' total flows to $3.3 million outflows for the former and $1.5 million inflow for the latter.
Hong Kong BTC ETFs have seen a total of $18.6 million in outflows since launch.
ETH ETFs
Farside data shows that the ETH ETFs were not spared from the sell-off, with a combined outflow of $6.6 million on May 13.
AMC's ETH ETF experienced a $3.0 million outflow, raising its total outflows to $5.2 million, while Harvest saw a $3.0 million outflow, totaling $4.6 million in outflows.
Bosera's outflows for the day stood at $600,000, bringing its total flows to $7.5 million inflow.
Overall, the BTC and ETH ETFs in HK have witnessed a combined outflow of $20.9 million since launch.
