The listing of Hong Kong spot ETFs did not have a significant impact on futures ETFs. CSOP Bitcoin futures ETFs accounted for 50% of transactions.

Odaily News After the launch of 6 Bitcoin and Ethereum spot ETFs in the Hong Kong market at the end of last month, plus the original 3 futures ETFs, there are now a total of 9, the most in Asia. Earlier, it was suggested that as a competitive product of futures ETFs, spot ETFs, with low management fees, may lead to some funds flowing out of futures ETFs; however, judging from the recent average daily trading volume or capital flow, the listing of spot ETFs has not caused 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. Judging from the average daily trading volume, according to Bloomberg data, since the spot ETF was listed for more than a week (April 30 to May 9), the average daily trading volume of CSOP Bitcoin Futures ETF (3066) reached HK$60.71 million, ranking first, accounting for 50% of all virtual asset ETFs; China Asset Management Bitcoin ETF ranked second with an average daily trading volume of HK$18.86 million, accounting for 16%; Harvest Bitcoin Spot ETF ranked third with HK$14.57 million, accounting for 12%. Among Ethereum ETFs, the Boshi HashKey Bitcoin ETF (3008) has the largest daily trading volume, with an average daily trading volume of HK$8.12 million (accounting for 7%); the Southern East Investment Ethereum Futures ETF (3068) ranks second with HK$7.82 million (accounting for 6%). In terms of capital flow, the recent market volatility has not changed the attractiveness of capital. From May 2 to May 9, virtual asset ETFs listed in Hong Kong have received a total of HK$254 million in capital inflows. Last Thursday (9th), it hit a peak in capital flow in the past week, with an inflow of nearly HK$140 million. Among them, the Southern East Investment Bitcoin Futures ETF received a single-day net inflow of HK$193 million. Southern China Asset Management said that the ETF craze in the first quarter of this year pushed Bitcoin to break through its historical high, rising by more than 67%. Although in April, due to factors such as rising geopolitical risks and the failure of the Federal Reserve's interest rate cut expectations, the market's risk aversion sentiment heated up and Bitcoin fell back by more than 15%, the once-in-four-year "Bitcoin halving" event still brought positive catalysts to Bitcoin's performance. At the same time, more and more traditional financial participants are joining the virtual asset ecosystem, and related demand is also expected to form support. (Sing Tao Headline)