Hong Kong to Introduce Asia’s First Bitcoin Futures Inverse Product – Journal Today Web

On July 23, Hong Kong module start Asia’s prototypal Bitcoin futures oppositeness product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK).

This newborn exchange-traded money (ETF) by China Southern Asset Management Co., Ltd (CSOP) is fashioned to wage investors with an possibleness to acquire from declines in Bitcoin’s price.

Asia’s First Bitcoin Futures Inverse ETF

The CSOP Bitcoin Futures Daily (-1x) Inverse Product module be traded on the Hong Kong Stock Exchange (HKEX) at an initial toll of roughly 7.8 Hong Kong dollars (HKD) per organisation and is prefabricated to wage assets results that intimately mirror the oppositeness regular action of the S&P Bitcoin Futures Index.

This is achieved finished a futures-based copy strategy, which involves candid investments in spot-month Bitcoin futures traded on the metropolis Mercantile Exchange (CME).

Ms. Ding Chen, CEO of CSOP Asset Management, said in a statement, “As an ETF issuer reputable by investors in the APAC region, CSOP has ever aimed to substance broad and heterogeneous assets products. We are currently the directive bourgeois of Leveraged and Inverse products in Hong Kong, with a mart deal of 99%.”

She additional that the launching of the prototypal futures-based oppositeness Bitcoin creation in Hong Kong provides investors with opportunities to acquire from declines in Bitcoin’s value.

This start follows a vaporific punctuation for Bitcoin investors, as the cryptocurrency’s continuance dipped beneath $54,000 in primeval July before rebounding on optimism close pro-crypto sentiments, including those equal to past President Donald Trump’s possibleness semipolitical future.

CSOP Expansion In The Asia-Pacific

The launching of the CSOP Bitcoin Futures Daily (-1x) Inverse Product marks added travel in CSOP’s treatment within the Asia-Pacific region. It builds on the flourishing launch of the CSOP Bitcoin Futures ETF (3066.HK) in Dec 2022, which was among the prototypal crypto-linked ETFs in the region.

Since New 2022, HKEX has been trading blot crypto ETFs, play with CSOP’s Bitcoin Futures ETF and Ether Futures ETF. These products road Bitcoin futures and Ether futures cash-settled contracts traded on the CME.

In Jan 2023, Samsung Asset Management Hong Kong also introduced Bitcoin futures ETF. As of Apr 29, these ETFs hit together amassed 1.3 1000000000 HKD  worth roughly $170 meg in assets low management.

According to accumulation compiled by Bloomberg, oppositeness crypto exchange-traded products hit attracted roughly $106 meg to fellow globally. The maximal of these is the Short Bitcoin Strategy ETF from ProShares Advisors LLC, which has composed $62.5 meg in assets and charges a 1.33% direction fee.

In Hong Kong, the amount assets held by the sextet Bitcoin and Ether ETFs today defence at $362 million. Meanwhile, the blot Bitcoin ETFs launched in the U.S. in Jan hit together accumulated $60.7 1000000000 in assets.