QCP Capital: Hong Kong BTC and ETH spot ETFs’ first-day trading volume is disappointing, and it is suspected that institutional interest is only concentrated in the United States

PANews reported on April 30 that QCP Capital, a Singapore-based crypto investment firm, said: “Hong Kong’s Bitcoin (BTC) and Ethereum (ETH) spot ETFs opened today with extremely disappointing trading volumes. Bitcoin traded $8.5 million and Ethereum traded $2.5 million. Does this indicate that institutional interest in cryptocurrencies is only in the United States, while Asia’s interest is more focused on private wealth and is dominant locally? Against this backdrop, the market traded heavily, with BTC hitting $6,100 and ETH approaching $3,000. With Amazon’s earnings and Zhao Changpeng’s verdict about to be announced, we may see turbulence in New York time.”