{"id":84654,"date":"2024-07-22T08:52:25","date_gmt":"2024-07-22T12:52:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84654"},"modified":"2024-07-22T08:52:28","modified_gmt":"2024-07-22T12:52:28","slug":"asias-first-inverse-bitcoin-etf-to-launch-in-hong-kong","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/asias-first-inverse-bitcoin-etf-to-launch-in-hong-kong\/","title":{"rendered":"Asia\u2019s First Inverse Bitcoin ETF to Launch in Hong Kong"},"content":{"rendered":"\n

Hong Kong will introduce Asia's first Bitcoin futures <\/a>inverse product, the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376.HK), on July 23.<\/p>\n\n\n\n

\"Asia\u2019s
Asia\u2019s First Inverse Bitcoin ETF to Launch in Hong Kong<\/figcaption><\/figure>\n\n\n\n

The objective of the new exchange-traded fund (ETF) by CSOP Asset Management, one of the largest asset administrators in China, is to provide investors with a means of profiting from drops in the price of Bitcoin.<\/p>\n\n\n\n

Following the successful launch of the CSOP Bitcoin Futures ETF (3066.HK) in December 2022, this development continues the firm's expansion in the Asia-Pacific region.<\/p>\n\n\n\n

About the Inverse Bitcoin ETF<\/h2>\n\n\n\n

The CSOP Bitcoin Futures Daily (-1x) Inverse Product intends to provide investment results that closely mirror the inverse daily performance of the S&P Bitcoin Futures Index.<\/p>\n\n\n\n

This inverse product accomplishes this by employing a futures-based replication strategy that invests directly in spot-month Bitcoin Futures on the Chicago Mercantile Exchange.<\/p>\n\n\n\n

The product is scheduled to be listed on the Hong Kong Stock Exchange \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(HKEX) with a listing price of approximately 7.8 Hong Kong dollars per unit, as indicated in a CSOP company post on July 22.<\/p>\n\n\n\n

Hong Kong crypto exchange-traded funds (ETFs)<\/h2>\n\n\n\n

Since the introduction of the Bitcoin Futures ETF and Ether Futures ETF by CSOP in late 2022, HKEX has been trading spot crypto ETFs.<\/p>\n\n\n\n

In January 2023, Samsung Asset Management Hong Kong's Bitcoin future ETF followed the two products, which monitor BTC futures and Ether futures<\/a> cash-settled contracts traded on the CME.<\/p>\n\n\n\n

As of April 29, the three futures products of the HKEX crypto ETFs had accumulated 1.3 billion $HK valued at $170 million in assets under management.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong will introduce Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376.HK), on July 23. The objective of the new exchange-traded fund (ETF) by CSOP Asset Management, one of the largest asset administrators in China, is to provide investors with a means of profiting from drops in the […]<\/p>\n","protected":false},"author":12,"featured_media":84656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[1277,1613,20718,1134],"class_list":["post-84654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-asia","tag-bitcoin-etf","tag-csop-bitcoin-future","tag-hong-kong"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/btc-etf.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84654"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84656"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}