Ethereum

Bank

Bitcoin

Read

Daily

Hong Kong’s stock exchange is launching its first Bitcoin inverse investment product, allowing traders to bet against the largest by market cap crypto. 
<a href="https://crypto.news/tag/hong-kong/" target="_blank" rel="noreferrer noopener">Hong Kong</a>‘s stock exchange is set to debut its first Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) inverse investment product, expanding its virtual asset offerings as it aims to enhance its position as a leading financial hub. 
According to the South China Morning Post, CSOP Asset Management’s new product, the Bitcoin Futures Daily Inverse Product, denominated in U.S. dollars, takes short positions in Bitcoin futures traded on the Chicago Mercantile Exchange. This allows traders to benefit from declines in market prices. As per CSOP, the product is subject to significant volatility, with the potential for values to drop by more than 20% in a single day. 
The new inverse financial product follows the approval three months prior of six spot excange-traded funds (ETFs) that invest directly in Bitcoin and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>). Despite these efforts, the region has yet to attract significant trading interest, showing modest inflows compared to the U.S. market. 
Hong Kong, which was the first to introduce spot Ethereum ETFs and establish a licensing regime for centralized crypto exchanges, continues to develop its regulatory framework for the crypto sector. In mid-July, financial regulators disclosed receiving over 100 submissions advocating for a stablecoin licensing regime. 
As crypto.news <a href="https://crypto.news/hong-kong-to-present-regulatory-framework-for-stablecoins-by-2025/" target="_blank" rel="noreferrer noopener">reported</a>, a majority of respondents to a public consultation supported regulatory oversight to ensure the stable and responsible growth of the stablecoin ecosystem. 
 Read more: <a href="https://crypto.news/hong-kongs-za-bank-starts-offering-services-to-stablecoin-issuers/"> Hong Kong’s ZA Bank starts offering services to stablecoin issuers </a>

Hong Kong gets inverse financial product to bet against Bitcoin

crypto.news

Artikel lain yang dipublikasikan pada 22 Jul 2024

Hype Continues To Explode Around Rollblock As Experts Predict It To Follow The Remarkable Rise Of...

CNBC thinks Donald Trump will make Bitcoin a reserve currency

Bitcoin ETFs saw a record $18 billion inflow between July 15-19, 2024

Philippines Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurren...

Mt. Gox Begins Test Transactions on Bitstamp Ahead of Repayments

Major Dogecoin Downtrend Might Finally Be Over

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!