Preliminary data from Farside Investors indicates that on Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs experienced a significant outflow of $39.3 million, marking the highest outflow since their launch on May 2.
Spot Bitcoin funds from Bosera, China Asset Management, and Harvest collectively lost $32.7 million, while Ethereum funds from the same issuers lost $6.6 million.
SoSoValue reported a net redemption of 519.5 BTC and a daily turnover of $4.25 million, with a total of 3,560 BTC held in the funds, valued at approximately $222.5 million at current prices.
This large outflow reversed the previously positive total flow balance, resulting in a negative $20.9 million overall. Meanwhile, Bitcoin ETFs in the United States saw a daily inflow of $66 million on May 13, contrasting with the previous two trading days that saw $96 million exiting the products.
Fidelity’s FBTC fund led with $38.6 million in inflows, followed by Bitwise BITB with $20.3 million. Grayscale’s GBTC reported a net zero flow for the day as its outflows slowed down.
The cryptocurrency market experienced a 2% gain, reaching a total capitalization of $2.40 trillion, with Bitcoin trading around $62,500 and Ethereum at $2,930. Altcoins such as Solana, Dogecoin, Shiba Inu, and Near Protocol performed well, signaling a revival in meme coins.
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