Hong Kong to launch Asia's first inverse bitcoin ETF
Hong Kong's CSOP Asset Management said it will launch the CSOP Bitcoin Futures Daily (-1x) Inverse Product on the city's stock exchange on Tuesday morning.
The ETF is expected to take advantage of rising demand to profit from the volatile trading of cryptocurrencies. After the first batch of spot crypto ETFs went public in Hong Kong in April, bitcoin had a bumpy second quarter, losing more than 12%.
«The first futures-based inverse bitcoin product listed in Hong Kong creates opportunities for investors to gain from downside movements in bitcoin,» said Ding Chen, CEO of CSOP Asset Management in a statement.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details» Bitcoin has been the most erratic among major global assets in the last ten years, with volatility as high as 38.3% in 2023, surpassing crude oil and the Nasdaq 100, the company added.
Bitcoin rebounded strongly in the past few weeks on increased expectations that Republican presidential nominee Donald Trump would regain the White House. It was
up slightly and traded at around $67,400 on Monday following U.S. President Joe
