The CSOP Bitcoin Futures ETF in Hong Kong has seen a significant increase in trading volume and net inflow due to the recent rally in Bitcoin. On October 24, the ETF recorded its highest trading volume and net inflow since its listing, with HK$175.87 million in trading volume and HK$138 million in net inflows. Previously, daily turnover ranged from HK$1 million to HK$2 million. The CSOP Bitcoin Futures ETF, launched in December last year, is Hong Kong's first Bitcoin futures exchange-traded fund and is managed by CSOP Asset Management Limited. The surge in trading activity and inflows reflects the growing interest and confidence in Bitcoin as the leading cryptocurrency continues to gain. The recent surge in Bitcoin price is also attributed to increasing optimism regarding the approval of a spot Bitcoin ETF in the U.S. Coinbase's Chief Legal Officer, Paul Grewal, believes that the SEC will soon approve a spot Bitcoin ETF, citing a recent court ruling that favored Grayscale's bid to convert its Bitcoin fund into an ETF. This suggests a potential path for the approval of a Bitcoin-related ETF in the coming months. Matrixport, a crypto financial services platform, predicts a major Bitcoin rally if a spot ETF is launched, with potential inflows of $12 to $24 billion into the Bitcoin ETF.
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