Hong Kong Stock Exchange to Launch Asia\'s First Bitcoin Inverse ETF Managed by CSOP on July 23
- WBOYOriginal
- 2024-07-23 14:30:21307browse
The Hong Kong Stock Exchange (SEHK) will launch Asia's first Bitcoin inverse ETF on July 23. Managed by CSOP Asset Management Limited, the 'Bitcoin Futures Daily (-1x) Inverse Product' aims to provide the inverse performance of Bitcoin through short positions in CME futures.
The Hong Kong Stock Exchange (SEHK) will launch its first Bitcoin inverse ETF on July 23. The ETF, managed by CSOP Asset Management Limited, will be called the “Bitcoin Futures Daily (-1x) Inverse Product.” It aims to provide the inverse performance of Bitcoin through short positions in CME futures.
The new ETF will allow investors to bet against Bitcoin, even as it rallies due to US President Joe Biden’s decision to abandon his reelection bid. The product offers both retail and institutional investors a regulated way to profit from decreases in Bitcoin’s value.
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