Hong Kong's three Ethereum spot ETFs surged today, possibly due to the US SEC's expected approval of similar products
Disclosed by the South China Morning Post, the price of Hong Kong Ethereum ETF has collectively surged today due to the expectation of similar crypto products being approved by the US Securities and Exchange Commission. As of Wednesday noon, the net inflow of Huaxia Fund (Hong Kong) Ethereum ETF exceeded HKD 5 million, the largest net inflow since its launch. Data from the Hong Kong Stock Exchange shows that the prices of three spot Ethereum ETFs rose more than 18% on Tuesday, and the trading volume of Huaxia Fund (Hong Kong) Ethereum ETF exceeded 1.28 million shares on Tuesday. The trading volume of two other spot Ethereum ETFs issued by CSOP and Bosera HashKey this week was also higher than usual. However, it should be noted that although Hong Kong spot crypto ETFs are regarded as an important step for Hong Kong to become a virtual asset center, their trading volume has remained relatively low for most of the time since their launch.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FBI warns Maryland residents of rising $54.5M crypto scam losses
Qubetics Presale Launching Soon: Harness Stability and a Transparent Fee Structure for a Smarter Digital Future
XRP Price Reaches $9,868 in Price Glitch
Banana Gun Pledges $3 Million Refund for Hacked Users, Implements New Security Protocols