Hong Kong Bitcoin ETFs To Reach $1 Billion AUM By 2024 End, Kraken Unit Predicts
Summary
CF Benchmarks, a unit of Kraken, is benefiting from the surge in spot Bitcoin ETFs, with $24 billion of cryptocurrency ETFs using its benchmarks. It expects Hong Kong ETFs to reach $1 billion in funds by 2024 and plans to expand into South Korea and Israel. While US ETFs saw a significant rally, they recently faced a large net outflow, with assets under management at $47 billion. In contrast, Hong Kong's Bitcoin ETF had a trading volume of HK$43.41 million, while US-based Bitcoin ETFs saw a trading volume of $1.72 billion on May 2.
