According to data from the Hong Kong Stock Exchange, the six new spot Bitcoin and Ether ETFs processed approximately HK$87.5 million (US$11.2 million) in trading volume on their first day, significantly below analysts’ expectations. This figure pales in comparison to the first-day trading volume of US$4.6 billion for 11 spot Bitcoin ETFs launched in the United States. The largest asset manager, China Asset Management (ChinaAMC), provided $121.7 million in assets under management (AUM) for its spot Bitcoin ETF by the end of the first trading day, while its spot Ether ETF had $20.4 million in AUM.