Hong Kong Crypto Futures ETF Experiences Best Performance Amid Bitcoin Rally

On Thursday, three crypto futures trading funds in Hong Kong hit new highs as Bitcoin soared above $52,000.

CSOP Bitcoin BTC

-0.27%
The futures ETF, Hong Kong's first Bitcoin futures ETF, rose 3.56% to close at HK$20.92 ($2.67) on Thursday, its highest level since its inception in December 2022. Samsung Bitcoin Futures Active ETF rose 3.67% to close at HK$20.32 on Thursday, while CSOP Ether Futures ETF rose 4.56% to close at HK$15.81, both hitting record highs. Hong Kong's benchmark Hang Seng Index ended 0.41% higher.

The ETF's move comes as the price of Bitcoin has increased. Approximately $52,800 on Thursday, according to block price page. As of 2:15pm Hong Kong time on Friday, Bitcoin was trading at around $52,100.

Meanwhile, some blockchain and crypto stocks rose in Hong Kong on Thursday. Shares of Sinohope Technology Holdings Ltd (formerly Huobi Technology, New Huo Technology) soared 26% on Thursday. Shares of crypto trading platform OSL closed 12.6% higher on Thursday.

Spot Cryptocurrency ETF Rush

Several companies in Hong Kong have announced plans to submit applications for spot crypto ETFs with the local regulator this year. ready to accept such an application.

Earlier this month, financial services firm Venture Smart Financial Holdings said it aims to debut a Spot Bitcoin ETF in the first quarter and a Spot Ether ETF in the second quarter.Hong Kong arm of Harvest Fund, a major Chinese asset management company reported to have been submitted I applied for a spot Bitcoin ETF in January.

Last month, HashKey Exchange CEO Livio Wen said: Approximately 10 fund companiesSome companies, including those backed by Chinese capital, have begun considering the possibility of launching spot crypto ETFs in the city.

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