Hong Kong Unveils Innovative Inverse Bitcoin ETF Product
CSOP Asset Management has launched Hong Kong’s first inverse Bitcoin ETF, enabling investors to profit from Bitcoin’s decline.
The CSOP Bitcoin Futures Daily (-1x) began trading this Tuesday and offers a new tool for speculation in Hong Kong’s growing crypto market. Despite predictions of Bitcoin’s future volatility, CSOP’s CEO Ding Chen anticipates the product will attract $50 to $100 million over the next two years.
Chen also mentioned plans for an inverse ETH ETF. This new offering adds to the $362 million inflow of ETFs in Hong Kong since April, highlighting the city’s evolving role as a crypto hub.
Clever Robot News Desk 26th July 2024
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