The Hong Kong Securities and Futures Commission (SFC) released its quarterly report, which showed significant growth in the ETF market in Hong Kong. The report indicates a 34% year-on-year increase in the overall market capitalization of ETFs, with a net capital inflow of HK$6.3 billion during the quarter.
The SFC’s third quarter report focuses on the Hong Kong ETF market
Q3 report Countries“By driving the growth of the city’s exchange-traded fund (ETF) market, the enhanced ETF Connect has boosted the number of eligible ETFs in Hong Kong to 16 with a total market capitalization of more than $300 billion (Note 1).”
In addition, assets under management of funds registered in Hong Kong rose 29.5% year-on-year to HK$1.67 trillion, with net inflows of about HK$34 billion recorded in the same period.
The number of licensed asset management companies increased by 24% year-on-year, while the number of open-end fund companies increased by 132.6%. The Supreme Financial Supervision Committee also noted a rise in license applications from institutions and individuals, with annual growth of 56% and 23%, respectively.
The SFC is currently reviewing license applications from 15 virtual asset trading companies, with 11 considered to have obtained licences. It is expected that many of these companies will obtain their licenses during the year through an expedited process.
The market capitalization of the first batch of Asia spot ETFs listed in Hong Kong has risen 70% with average daily trading volume doubling since their release in April.
Speaking of the ETF market, the US has also seen an impressive run, with US Bitcoin ETFs recording an inflow of over $223 million, and an ETH ETF seeing an inflow of over $102 million, which amounts to a total cumulative net inflow. $34.58 billion and $1.97 billion, respectively.
Also Read: SEC Rejects Solana ETFs, Sending Ripples Through the Sector
Source: https://www.cryptonewsz.com/hong-kong-etfs-attract-hk6-3b-sfc-q3-report/