Bitcoin ETFs in Hong Kong and Australia have achieved record capital inflows, marking a significant surge in market interest and investment.
Surge in Bitcoin Holdings for Hong Kong ETFs
Bitcoin exchange-traded funds (ETFs) in Australia and Hong Kong have received a lot of new capital. The German government’s massive selloff coincided with record-high ETF inflows. Also, with an incredible 1.05 million BTC stacked, the worldwide Bitcoin ETF market has recovered.
According to Coingape, as of July 13, the Bitcoin reserves of Hong Kong’s Bitcoin ETFs have increased significantly, reaching 4,941 BTC. From the last report of 3,842 BTC on June 21, this signifies a substantial 28.6% gain.
This meteoric rise shows that the Hong Kong market is once again enthusiastic about Bitcoin. Prior to this, in May, AUM for the three Hong Kong ETFs fell below 3,700 BTC, indicating substantial withdrawals.
Australia’s New Bitcoin ETF Approvals
The Monochrome Bitcoin ETF (IBTC) in Australia has also been quite popular. Since its launch, it has received 83 BTC. The entire value of its holdings is now approaching 100 BTC. On top of that, DigitalX just received approval to operate another Bitcoin ETF in the country.
The German government was disposing off assets at an alarming rate, in contrast to the massive inflows seen in Australia and Hong Kong. The German government finally liquidated the 50,000 BTC confiscated from the Movie2k pirate website on July 12. Flow Traders purchased the last 3,874 BTC, and 3,094 BTC were moved to an unmarked address.
U.S. Bitcoin ETFs Experience Unprecedented Weekly Influx
The US market for Bitcoin exchange-traded funds (ETFs) has also been very active, with over $1.1 billion worth of assets added to them this week alone. U.S. Bitcoin ETFs have not seen such a strong weekly influx since May. Based on data from HODL15Capital, the total Bitcoin holdings by U.S. ETFs have hit a record high of 888,607 BTC.