Hong Kong & Australia Bitcoin ETF Inflows Hit Record High

Major Takeaways:

• The worldwide ETF revolution is showing no signs of slowing down, with Australian and Hong Kong products making big moves over the past week.
• Bitcoin’s resurgence has coincided with increased volume and inflows for major Aussie and Hong Kong BTC ETFs.
• Meanwhile, a third ASX-listed Bitcoin ETF is set to enter its first full week of trading after going live last Friday.

BTCC , one of the longest-running exchange in the world, offers spot trading and over 300 virtual currency futures contracts trading with leverage up to 500Χ. If you are interested in crypto trading in Australia, you can start your trading journey by signing up for BTCC.

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Hong Kong & Australian Bitcoin ETF Inflow Overview

In crypto market, there’s no denying the significant impact exchange-traded funds are having, and will continue to have, over the crypto industry following the SEC’s approval in January this year. Notably, Spot Bitcoin ETFs Funds in Hong Kong and Australia have witnessed significant inflows and are starting to gain some momentum of their own in the crypto ETF sweepstakes.

Hong Kong’s Bitcoin ETFs have witnessed a notable surge in their Bitcoin reserves, amassing a total of 4,941 BTC as of July 13. This represents a significant 28.6% increase from the previous reserve of 3,842 BTC reported on June 21. This follows a down month in May for the Asian market, which saw record outflows following regulatory approval for both Bitcoin and Ethereum ETFs. While this substantial growth highlights the resurgence of confidence and interest in Bitcoin within the Hong Kong market.

Similarly, Australia’s Monochrome Bitcoin ETF (IBTC) has drawn significant attention. It has accumulated an influx of 83 BTC since its launch. This brings its total holdings closer to the 100 BTC mark. With global asset manager VanEck releasing the second Bitcoin ETF on Australia’s largest stock exchange (ASX), Aussie funds are starting to hit their stride.

Notably, the ETF craze isn’t set to stop there though. With the Australian market finally heating up, a third player is gearing up to shake up the ASX. On July 9, Australia’s DigitalX (DCC.AX)announced that it has obtained approval to list its Spot Bitcoin exchange-traded fund on the Australian Securities Exchange. This will make DigitalX the second asset manager after VanEck to secure approval for the ASX listing.

Related article: Australia’s DigitalX To List Spot Bitcoin ETFs On ASX

While Hong Kong and Australia recorded substantial inflows, the German government was on a selling spree. On July 12, the German government completed the liquidation of 50,000 BTC seized from the piracy website Movie2k. The final lot of 3,874 BTC was sold to Flow Traders while 3,094 BTC was shifted to an unmarked address.

US Bitcoin ETFs Witness Record Inflows

In the United States, Bitcoin ETFs have also witnessed heavy accumulation, netting inflows of more than $1.1 billion last week. This represents the best weekly inflow recorded by U.S. Bitcoin ETFs since May. The total Bitcoin holdings by U.S. ETFs have reached an all-time high of 888,607 BTC, according to data from HODL15Capital.

On Friday, July 12, U.S. BTC ETFs recorded a total influx of $311 million with BlackRock’s IBIT leading the surge with $121 million of inflows. Moreover, Fidelity’s FBTC followed closely with $115 million in inflows. Also, it’s important to note that one of the Spot Bitcoin ETFs, including Grayscale’s GBTC, saw any outflows.

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Where to Buy Bitcoin in Australia?

If you want to trade Bitcoin(BTC) in Australia, we advise you to start with BTCC, one of the longest-serving exchanges in the world. As a old exchange enjoy good reputation, BTCC is more reliable.

BTCC is among the best and safest platforms to buy Bitcoin(BTC). The reasons why we introduce BTCC for you set forth as below:

Industry-leading security

BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.

High Liquidity & Volume

BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 300 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.

Extremely low fees

Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

High and rich bonus

BTCC holds all kinds of campaigns where investors can participate to win exciting bonus. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.

Excellent customer service

BTCC also gains great reputation in terms of customer support. If you are confused or have problem in the process of trading currencies, you can obtain customer support via email and live chat, BTCC offers 24/7 online customer service for you.

Related article:Buy Bitcoin (BTC) Australia: A Comprehensive Guide For 2024

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