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Hong Kong’s Shaky Crypto ETF Debuts Dent Global Hub Aspirations
The first Hong Kong exchange-traded funds investing directly in crypto have so far failed to spark the kind of excitement that greeted rival US products, a blow for the city’s push to foster a preeminent digital-asset hub. Total assets at the batch of six Bitcoin and Ether ETFs have dropped about $25 million from the $293 million amassed when they debuted two weeks ago, reflecting in part investor outflows, data compiled by Bloomberg show. In contrast, US spot-Bitcoin ETFs from the likes of BlackRock Inc. and Fidelity Investments were part of an historically successful launch for a fund category after going live in ... (full story)