The Spot Bitcoin ETFs in America started the new week well with an inflow of $218 million in capital. After weeks of misery for the Bitcoin price, the negativity also spread to the Spot Bitcoin ETFs. However, now there appears to be a recovery again.
Last Friday there was already an inflow of more than 300 million dollars and there was also a party on Monday.
Could Hong Kong’s Bitcoin ETFs Follow?
The big question now is whether the Spot Bitcoin ETFs in Hong Kong can follow the example of the American ETFs. After four trading days, they already managed to collect 4,388 Bitcoin and have a total capital of 276 million dollars.
Today is the fifth trading day for the Bitcoin ETFs in Hong Kong. That day starts at a time when sentiment around Bitcoin seems to be slowly moving in the right direction again.
After reaching Bitcoin’s all-time high of $73,800 on 14, sentiment waned for a while. In that respect, the moment of launch was not optimal for the Bitcoin ETFs in Hong Kong, but now that could easily change.
Striking development at Graysacle
It is notable that Grayscale’s Bitcoin ETF saw small inflows yesterday for the second day in a row. There was already an inflow for the Grayscale ETF last Friday and those green figures continued on Monday.
However, yesterday’s inflow was minimal, so there is a chance that we will drop below zero again today with Grayscale. It is particularly special that we saw inflows at Grayscale, because they charge a much higher management fee than the competition.
While you pay 1.5% per year at Grayscale, the average of the other providers is much, much lower. There you pay around 0.20% per year for an investment in the ETF.
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Source: https://newsbit.nl/bitcoin-etfs-halen-voor-218-miljoen-aan-kapitaal-binnen/
