Hong Kong Bitcoin ETFs not enough to absorb US ETF selling pressure

The inflows from the recently launched Hong Kong spot Bitcoin exchange-traded funds (ETFs) in Hong Kong are not enough to cover the selling from the 11 United States Bitcoin ETFs. So far, the Hong Kong ETFs saw $217 million worth of net inflows this week, according to a May 2 X post by James Butterfill, the head of research at CoinShares. The inflows are less than the $298 million worth of net outflows generated by the 11 U.S. spot Bitcoin …