Hong Kong to launch Asia's first Inverse Bitcoin ETF: A new investment opportunity

The Asia's first inverse bitcoin ETF will be launched in Hong Kong on Tuesday July 23, 2024.

Hong Kong to launch Asia's first Inverse Bitcoin ETF: A new investment opportunity

Hong Kong is set to launch Asia's first inverse Bitcoin exchange-traded fund (ETF) on Tuesday July 23, 2024. The CSOP Bitcoin Futures Daily (-1x) Inverse Product, developed by CSOP Asset Management, will allow investors to profit from declines in Bitcoin's value. According to the Hong Kong's CSOP Asset Management, the CSOP Bitcoin Futures Daily (-1x) Inverse Product will be launched on the city's stock exchange on Tuesday morning. This product comes in response to increasing demand for investment strategies that capitalize on the volatility of cryptocurrencies, particularly after Bitcoin experienced a significant drop of over 12% in the second quarter of 2024. "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. Bitcoin has been the most volatile major global asset over the past decade, with a volatility pea…

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Founded Mainwave Digital Media, Temmy Samuel is a financial advisor and journalist, blending financial expertise with storytelling skills to simplify complex financial topics for readers and clients alike. Learn More About Temmy Samuel

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