COINDESK DAILY: Hong Kong Bitcoin and Ether ETFs Have Soft Debut; What Indonesia’s Election Means for Crypto

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CoinDesk

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4.7 • 698 Ratings

🗓️ 30 April 2024

⏱️ 2 minutes

🔗️ Recording | iTunes | RSS

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Summary

Host Jennifer Sanasie breaks down the latest news in the crypto industry from the soft debut of spot ETF products in Hong Kong to the impact of Indonesia’s presidential election on crypto. To get the show every day, follow the podcast here. "CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as Hong Kong’s bitcoin and ether ETFs failed to lift off on their trading debut, coming dramatically under initial expectations. Plus, MicroStrategy (MSTR) doubles down on their bitcoin bag, and what Indonesia’s presidential election could mean for crypto. - Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Register now at consensus.coindesk.com. - This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:51.4	Hong Kong's crypto ETFs had a soft debut with trading volume coming in much lower than expected.
0:57.1	The total trading volume for Bitcoin came in at around $8.5 million, while Ether ETFs only saw around $2.5 million.
1:06.4	Issuer was expected the initial volume to be over $100 million, according to local media reports.
1:12.0	Bitcoin slipped on the news and was at around $61,100 as of 9 a.m. Eastern Time.
1:19.0	Microstrategy now holds $13.6 billion worth of Bitcoin totaling 1% of total supply.
1:26.0	That's according to Canacord.
1:27.5	The broker credits price target on the firm to $1,590 from 1810 while maintaining its
1:34.8	buy rating.
1:35.8	The company raised over $1.5 billion in the first quarter and used the proceeds to acquire
1:41.0	an additional 25,250 Bitcoin, now owning more than 200,000 units of the
1:47.8	cryptocurrency. Micro Strategies' corporate strategy is partly based on the acquisition and holding
1:53.6	of Bitcoin. And according to industry watchers, the Indonesian election results might be good for
	...

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