• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Bitcoin ETFs

Hong Kong Bitcoin ETFs To Reach $1 Billion AUM By 2024 End, Kraken Unit Predicts

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

London-based CF Benchmarks, a unit of crypto exchange Kraken, is positioning itself as a notable beneficiary of the surge in spot Bitcoin ETFs this year and shares an increasingly bullish outlook for the ETF market in Hong Kong and the US through 2024. 

According to Bloomberg, with the recent debut of these ETFs in the US in January and their subsequent launch in Hong Kong, CF Benchmarks has become a key reference data provider for approximately $24 billion of cryptocurrency ETFs. This figure is dominated by Bitcoin funds, including the $15.9 billion vehicle offered by BlackRock in the US.

Bitcoin ETFs Set To Shine In Hong Kong

CF Benchmarks licenses its benchmarks to the ETFs and earns fees based on assets under management. The company currently represents around half of the crypto benchmarking market and is actively collaborating with the new Bitcoin ETFs in Hong Kong. 

Related Reading: Fear Back For 1st Time Since October As Crypto Greed Takes The Backseat

Sui Chung, the CEO of CF Benchmarks, told Bloomberg that he envisions expanding crypto ETFs into other markets such as South Korea and Israel. Chung notes that South Korea, in particular, has seen ETFs become the preferred option for long-term savings and has shown a high level of adoption of digital assets.

Notably, while CF Benchmarks initially anticipated $5 billion in assets for the US spot-Bitcoin ETFs utilizing its indexes, the actual amount has exceeded four times that figure. 

Looking ahead, Chung expects the Hong Kong products to accumulate as much as $1 billion in funds under management by the end of 2024.

Contrasting Trends

The introduction of ETFs in the US sparked a significant rally, propelling Bitcoin to an all-time high of nearly $74,000 in March. However, since then, the token has experienced a decline, shedding approximately 20%, to a current trading price of $59,000 as investor demand for the funds waned. 

Bitcoin ETFs
The 1-D chart shows BTC’s price recovery. Source: BTCUSD on TradingView.com

On Wednesday, the group of nearly a dozen US products faced its largest daily net outflow, resulting in assets under management standing at approximately $47 billion.

Related Reading: Jack Dorsey’s Block To Invest 10% Of Bitcoin Profits Into Monthly BTC Buys

On the other hand, Hong Kong’s emerging market recorded a trading volume of HK$48.91 million (approximately US$6.26 million) for six Hong Kong-based ETFs on May 3. 

Among the six Hong Kong spot ETFs for virtual assets, the Bitcoin ETF commanded the lion’s share of trading volume, accounting for HK$43.41 million. Additionally, the Ethereum ETF recorded a trading volume of HK$5.5 million.

In contrast to the Hong Kong market, the trading volume of US-based Bitcoin ETFs soared to an impressive $1.72 billion on May 2.

Featured image from Shutterstock, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Bitcoin Derivative Pressure Score Hits 30%: Downside Risk Signal

Bitcoin Derivative Pressure Score Hits 30%: Downside Risk Signal

13 hours ago
Bitcoin

Bitcoin Whale Dumps $4 Billion In BTC, Here’s What They Bought

14 hours ago
cours-or-nouveau-record-chute-btc

Record de l’or et chute du Bitcoin : que se passe-t-il ?

18 hours ago
Bitcoin

Bitcoin Correction Doesn’t Derail Its Growth Trajectory – Why The Bull Run Is Still On

20 hours ago
Bitcoin & Ethereum

Bitcoin ETFs Post Net Inflows Again, But Ethereum Still Dominates

1 day ago
Bitcoin Set To Benefit From Strategy’s Potential S&P 500 Inclusion, Analyst Predicts

Bitcoin Set To Benefit From Strategy’s Potential S&P 500 Inclusion, Analyst Predicts

1 day ago

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    13 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    13 hours ago
  • From Institutional to Individual Investors: How XRP and...

    14 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    14 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.