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CSOP Asset Management is set to launch Asia's first inverse Bitcoin ETF in Hong Kong, allowing investors to profit from Bitcoin price declines.
Investors in Asia Can Now Benefit From Bitcoin Price Decreases Through the New ETF
The first inverse product for Bitcoin futures in Asia, the CSOP Bitcoin Future Daily (-1x) Inverse Product (7376.HK), will debut on July 23 in Hong Kong.
Cointelegraph shares that investors will be able to benefit from Bitcoin price decreases through a new exchange-traded fund (ETF) launched by CSOP Asset Management, one of the biggest asset managers in China.
This move continues the company's expansion in the Asia-Pacific area and follows the successful launch of the CSOP Bitcoin Futures ETF (3066.HK) in December 2022.
For investors seeking a product that closely tracks the inverse daily performance of the S&P Bitcoin Futures Index, CSOP offers the Bitcoin Futures Daily (-1x) Inverse Product.
To do this, it employs a replication method based on futures, investing straight into Bitcoin Futures on the spot-month Chicago Mercantile Exchange.
The ETF Will Trade on HKEX With a Listing Price of Approximately 7.8 Hong Kong Dollars per Unit
A CSOP corporate post from July 22 states that the product will be launched on the HKEX with a listing price of about 7.8 Hong Kong dollars per unit.
Cointelegraph spoke with Zeta Markets Founder Tristan Frizza, who said that the introduction of the inverse Bitcoin ETF exemplifies the "increasing sophistication of crypto financial products" around the world.
CSOP's Bitcoin Futures Daily (-1x) Inverse Product Aims to Balance Speculative Activities and Market Stability
"By enabling bets against the market, financial instruments like this have the potential to balance speculative activities and contribute to long-term market stability, which is crucial for the maturation of the crypto sector and the acceptance of crypto as established investment assets."
Following the launch of CSOP's Bitcoin Futures ETF and Ether Futures ETF in late 2022, HKEX began trading spot crypto ETFs.
After these two products, in January 2023, Samsung Asset Management Hong Kong launched a Bitcoin future ETF that tracked BTC and Ether futures cash-settled contracts traded on the CME.
By the end of April, the three crypto ETFs offered by HKEX had accumulated $170 million in assets or 1.3 billion $HK.
