Hong Kong & Australia Bitcoin ETF Inflows Hit Record High

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As an experienced financial analyst, I find the recent trends in Bitcoin ETF inflows intriguing. The record-breaking inflows into Hong Kong and Australian Bitcoin ETFs, alongside the substantial selloff by the German government, highlight the diverging attitudes towards Bitcoin within different markets.

Bitcoin ETFs in Hong Kong and Australia have experienced notable increases in investments. This influx occurred during a major selling off by the German government, resulting in an all-time high for these funds. Additionally, the international Bitcoin ETF market has rebounded strongly, with over 1.05 million Bitcoins amassed.

Overview Of Hong Kong & Australian Bitcoin ETF Inflow

Hong Kong’s Bitcoin exchange-traded funds (ETFs) have seen a considerable boost in their Bitcoin holdings. As of July 13, these ETFs collectively held 4,941 Bitcoins. This is a substantial rise of 28.6% from the reported 3,842 Bitcoins on June 21. The impressive growth highlights the renewed faith and demand for Bitcoin in Hong Kong’s investment scene. Previously, these three ETFs experienced considerable withdrawals, causing their assets under management (AUM) to fall below 3,700 Bitcoins in May.

Australia’s Monochrome Bitcoin Exchange-Traded Fund (IBTC) has gained considerable interest and amassed 83 bitcoins since its debut. This puts its holdings just shy of reaching the 100 Bitcoin threshold. Furthermore, DigitalX has obtained approval to introduce another Bitcoin ETF in Australia.

In July 12th, the German government disposed of approximately 50,000 Bitcoin seized from Movie2k piracy site. The last portion of 3,874 Bitcoin were sold to Flow Traders, while the remaining 3,094 Bitcoin were transferred to an undisclosed location.

U.S. ETFs Experience Record Inflows

In the USA, there has been significant investment in Bitcoin exchange-traded funds (ETFs). This week, these funds attracted over $1.1 billion, marking the largest weekly inflow since May. As a result, the amount of Bitcoin held by U.S. ETFs has hit a new record high of 888,607 BTC, according to HODL15Capital’s latest data.

On July 12, 2023, US Bitcoin exchange-traded funds (ETFs) experienced a collective inflow of approximately $311 million. BlackRock’s IBIT took the lead with around $121 million in new investments. Similarly, Fidelity’s FBTC attracted about $115 million. It’s worth mentioning that among the Spot Bitcoin ETFs, none reported any outflows, such as Grayscale’s GBTC.

During the past week, BlackRock’s Bitcoin ETF attracted a significant amount of investment, bringing in a total of $523 million. Similarly, Fidelity’s Bitcoin ETF saw inflows of $356 million. As a result, BlackRock’s IBIT now manages assets worth over $18 billion, while Fidelity’s FBTC is close to reaching the $10 billion mark in assets under management.

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2024-07-13 14:37