- The ETF allows investors to profit from a declining Bitcoin price.
- The inverse ETF has been lauded for its potential to enable crypto to go mainstream.
The Hong Kong Stock Exchange (HKEX) is set to list the CSOP Bitcoin Future Daily (-1x) Inverse Product on July 23. The ETF by CSOP Asset Management allows investors to profit from the declines in the price of Bitcoin.
According to the company’s announcement, the ETF “aims to provide investment results that, before fees and expenses, closely correspond to the one-time inverse daily performance of the S&P Bitcoin Futures Index (the “Index”).”
The inverse product will be listed at about 7.8 Hong Kong dollars per unit. The ETF will be the first of its kind in Asia.
See Related: Hong Kong Welcomes First Bitcoin, Ethereum ETFs By CSOP Asset Management
Launch Of CSOP Bitcoin Futures ETF
CSOP says the new inverse Bitcoin ETF follows its 2022 breakthrough in its Bitcoin Futures ETF. Consequently, the launch underscores CSOP’s continued expansion in the Asia-Pacific region. Similarly, HKEX has become a hub for crypto ETFs since late 2022.
Zeta Markets founder Tristan Frizza believes products like inverse ETFs can potentially balance speculative activities. He says the products can increase market stability and contribute to the acceptance of crypto as an asset class.
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