Hong Kong’s Stock Exchange launches its first Bitcoin Inverse Investment Product, allowing traders bet on the biggest crypto by market cap.
Hong Kong‘s stock exchange is set to debut its first Bitcoin (BTCIt is expanding the virtual assets it offers as part of its inverse product to strengthen its position as an industry leader. financial hub.
The South China Morning Post reports that CSOP Asset Management has launched a new product called the Bitcoin Futures Daily inverse Product. This product is denominated as U.S. Dollars and takes short positions on Bitcoin futures trading at the Chicago Mercantile Exchange. This enables traders to profit from price declines. According to CSOP the product can be volatile, and values could drop more than 20 percent in a day.
New inverse financial This product comes after the approval of six ETFs that invested directly in Bitcoin (and Ethereum) three months before.ETH). In spite of these efforts, however, there has been a modest increase in trading activity compared with the U.S.
Hong Kong continues to build its crypto regulatory framework. It was first to offer spot Ethereum ETFs as well as to establish licensing for central crypto exchanges. Mid-July saw the launch of the first spot Ethereum ETFs. financial The regulators revealed that they received over 100 petitions calling for the licensing of stablecoins.
The crypto.news reportedThe majority of participants in a public survey supported regulation to maintain a stable, responsible and sustainable growth for the ecosystem of stablecoins.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news