BTC slips amid poor debut for Hong Kong spot ETFs

2024-4-30 14:05

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.

The post BTC slips amid poor debut for Hong Kong spot ETFs appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Cryptospot Token (SPOT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 SPOT

spot kong etfs trading hong bitcoin million

Источник: coinjournal.net

spot kong → Результатов: 100


Фото:

VanEck lead charge as Australia prepares for Bitcoin ETF launch

Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs). ASX to approve Bitcoin ETFs Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the […] The post VanEck lead charge as Australia prepares for Bitcoin ETF launch appeared first on CryptoSlate.

2024-4-29 15:10


Фото:

Official approval has been granted for spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong, with an analyst predicting a looming “potential fee war” in the market.

Сообщение Official approval has been granted for spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong, with an analyst predicting a looming “potential fee war” in the market. появились сначала на Coinstelegram.

2024-4-25 06:19


Фото:

Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval

Hong Kong further solidified its status as a crypto hub, with several issuers reporting approval of their spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) applications on April 15. However, Hong Kong’s foremost financial regulator, the Securities and Futures Commission (SFC), has yet to release an official statement on this development.

2024-4-15 12:30


Фото:

First spot Ethereum ETFs approved as Hong Kong green lights crypto ETFs

Hong Kong has approved the launch of the first spot Bitcoin and Ethereum ETFs in the country, solidifying its position as a leading hub for cryptocurrency investments in Asia. Hong Kong’s Securities and Futures Commission (SFC) has granted approvals to China Asset Management, Harvest Global, and Bosera and HashKey spot Bitcoin and Ethereum exchange-traded funds (ETFs). […]

2024-4-15 11:38


дальше еще 51 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

EigenLayer announces token launch and airdrop for the community

EigenLayer’s token EIGEN will launch in May, with a total supply of 1. 67 billion tokens. The Eigen Foundation has announced an airdrop for the community, set for May. The Eigen Foundation, the non-profit supporting the development of restaking protocol EigenLayer, has announced the launch and distribution of the native token EIGEN.

SUI spikes 11% as BTC, ETH slide: Here’s why Sui price is surging?

Sui price rose more than 11% as Bitcoin and Ethereum declined below key levels. SUI gains after ByteDance subsidiary BytePlus chose to enter Web3 via the Sui blockchain. Sui (SUI) traded higher today despite a broader crypto market downturn that saw Bitcoin dip below $61k and Ethereum fall below $3,000.