Cryptocurrency
Asia's First Bitcoin Futures Inverse Product Launching in Hong Kong
Monday. July 22 at 4:00 PM
1 min. readHong Kong is set to debut Asia's inaugural Bitcoin futures inverse product on July 23 with the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376.HK). The ETF, created by CSOP Asset Management, offers investors a way to profit from Bitcoin price declines. This launch follows the success of the CSOP Bitcoin Futures ETF (3066.HK) in December 2022, marking the firm's expansion in the Asia-Pacific region. The new product aims to mirror the inverse daily performance of the S&P Bitcoin Futures Index through a futures-based replication strategy. It will be listed on the Hong Kong Stock Exchange at around 7.8 Hong Kong dollars per unit. HKEX has been trading spot crypto ETFs since late 2022, with CSOP's Bitcoin and Ether Futures ETFs paving the way. The SFC in Hong Kong recently issued alerts about seven illegal crypto exchanges operating in the region to combat fraud and scams.