Future

Bitcoin ETF

Daily

<div class="intro-text"> 
 Hong Kong will <a style="color: #0000ff;" href="https://csop-pdf-bucket1.s3.ap-east-1.amazonaws.com/upload/pdf/875c3f10-0b14-4d53-9102-177b9eda7873.pdf">introduce Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376.HK), on July 23</a>. This new exchange-traded fund (ETF), developed by China Southern Asset Management Co., Ltd (CSOP), provides a means for investors to potentially benefit from declines in Bitcoin’s price. 
</div> 
The new ETF is designed to reflect the inverse daily performance of the S&amp;P Bitcoin Futures Index, using a futures-based replication strategy that invests directly in spot-month Chicago Mercantile Exchange (CME) Bitcoin Futures. 
According to a CSOP announcement on July 22, the ETF will be listed on the Hong Kong Stock Exchange (HKEX) at around 7.8 Hong Kong dollars (HKD) per unit.&nbsp; 
CSOP is a leading ETF issuer in Hong Kong, offering a diverse range of products, including equity, fixed income, leveraged and inverse, thematic, money market, and virtual assets. In Q1 2024, five of the ten most traded ETFs on the Hong Kong Stock Exchange were issued by CSOP.&nbsp; 
<blockquote>
 “Innovation and leadership are core to CSOP’s mission as the company continues to introduce groundbreaking products, educate investors on ETF trading, and enhance trading efficiencies”, 
</blockquote> 
the annoucement read.&nbsp; 
This launch builds on CSOP’s expansion in the Asia-Pacific region, following the successful introduction of the <a style="color: #0000ff;" href="https://www.businesswire.com/news/home/20221214006108/en/CSOP-Bitcoin-Futures-ETF-3066.HK-and-CSOP-Ether-Futures-ETF-3068.HK-to-List-on-HKEX">CSOP Bitcoin Futures ETF (3066.HK) in December 2022</a>.&nbsp; 
Since late 2022, HKEX has been trading spot crypto ETFs, beginning with CSOP’s Bitcoin Futures ETF and Ether Futures ETF. Samsung Asset Management Hong Kong’s Bitcoin Futures ETF followed in January 2023. 
<a style="color: #0000ff;" href="https://defi-planet.com/2024/07/hong-kong-financial-regulators-propose-licensing-for-stablecoin-issuers-following-public-consultation/">This news follows a recent development in Hong Kong where financial regulators</a> have proposed a licensing regime for stablecoin issuers. On July 17, 2024, the Hong Kong Monetary Authority, Treasury Bureau, and Financial Services announced that a majority of respondents to their February consultation supported this new regulatory framework. The move aims to advance the regulation of the digital asset sector in the city. 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/07/hong-kong-to-introduce-asias-first-inverse-bitcoin-etf/">Hong Kong to Introduce Asia’s First Inverse Bitcoin ETF</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Hong Kong to Introduce Asia’s First Inverse Bitcoin ETF

DeFi Planet

Other articles published on Jul 22, 2024

These 5 Crypto Tokens Are About to Unlock Millions of Dollars

Top Analyst Predicts Ethereum’s Rise to $5,000 Amid ETF Buzz – Is Altcoin Season Next?

Trump Fired Biden (TRUMPBID) Memecoin to Surge 17,000% Before Exchange Listings, While SHIB and D...

Solana Price Rallies & Dogecoin Aims High; BlockDAG’s X1 Miner Revolutionizes Mobile Mining With ...

Solana Price Prediction: After Surpassing $180 Mark, When Is $200?

Phantom Arena: Revolutionizing the GameFi Space with Top-Tier Partnerships and Unmatched Engagement

Join our free newsletter for daily crypto updates!