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

Hong Kong ETF C A lackluster launch and microstrategy's Bitcoin bags get bigger. You're watching coin desk daily. I'm your host, Jen Sani Hong Kong's crypto ETF S had a soft debut with trading volume coming in much lower than expected. The total trading volume for Bitcoin came in at around $8.5 million while Ether ETF S only saw around $2.5 million. Issuers expected the initial volume to be over 100 million. According to local media reports, Bitcoin slipped on the news and was at around $61,100 as of 9 a.m. Eastern Time micro strategy now holds $13.6 billion worth of Bitcoin totaling 1% of total supply. That's according to Can accord the broker cut its price target on the firm to $1590 from 1810. While maintaining its by rating, the company raised over $1.5 billion in the first quarter and use the proceeds to acquire an additional 25,250 Bitcoin. Now owning more than 200,000 units of the Cryptocurrency microstrategy. Corporate strategy is partly based on the acquisition and holding of Bitcoin. And according to industry watchers, the Indonesian election results might be good for crypto. The winners of Indonesia's recent presidential election may ensure consistency for crypto policy in the country with winning vice presidential candidate of the current ruling party promising to create Blockchain during his campaign, Indonesia leads Southeast Asia in terms of the number of registered crypto users, but trails behind Thailand and Vietnam in terms of trading volume. That's a wrap for coin desk daily today, get more updates on coindesk.com and we'll see you next time.