Citi Raises Bitcoin Target Price to US$113,000; ChinaAMC Bitcoin ETF (Listed Class) (03042.HK) Rises 3.37% Intraday

NewTimeSpace News: As of October 2, 2026, ChinaAMC Bitcoin ETF (Listed Class) (03042.HK) rose 3.37% intraday to a latest price of HK$10.440, with an opening price of HK$10.270, a high of HK$10.540, a low of HK$10.250, and an intraday amplitude of 2.87%. The ETF traded 827,100 shares with a turnover of HK$8.6140 million, an average price of HK$10.415, and a premium rate of 3.29%.

NewTimeSpace understands that ChinaAMC Bitcoin ETF (Listed Class) (03042.HK) is managed by China Asset Management (Hong Kong). It is a physically backed spot Bitcoin ETF whose investment objective is to provide investment results that closely track the performance of Bitcoin as measured by the CME CF Bitcoin Index (Asia Pacific Closing Price). The ETF directly acquires and holds Bitcoin, with up to 100% of assets investable in Bitcoin, and Bitcoin transactions are conducted through virtual asset trading platforms licensed by the Securities and Futures Commission. It does not invest in Bitcoin futures, does not gain indirect Bitcoin exposure through other exchange-traded products, does not enter into futures contracts or any financial derivative instruments, and does not use any form of borrowing or leverage. To meet redemption requests or pay operating expenses, it may hold no more than 3% of net asset value in cash. As of September 30, the ETF had assets under management of HK$1.71 billion, a net asset value per unit of HK$10.108, and a board lot of 100 units.

On the news front, according to Reuters, Citi raised its 12-month Bitcoin target price from US$82,000 to US$113,000 in a September 30 report, and lifted its Ether target from US$2,240 to US$3,028, citing stronger crypto market activity, a favourable macro environment and renewed ETF inflows; the new targets imply upside of approximately 35% and 12% respectively from prevailing prices. Separately, according to Farside Investors monitoring, US spot Bitcoin ETFs recorded US$66.19 million of net inflows on September 29, with Bitcoin products drawing more than 12 times the US$5.44 million that flowed into Solana products.

Citi analyst Alex Saunders noted that the upgrade factored in three dimensions: on-chain activity, the macro environment and ETF fund flows; ETF inflows resumed after prices reclaimed the 200-day moving average, and the bank forecasts US$5 billion of net inflows into crypto investment products over the next 12 months under its base case, versus a prior expectation of flat flows, as financial advisers and brokerages gradually increase Bitcoin allocations.

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