Hong Kong to launch 'Inverse Bitcoin ETF' for first time in Asia
undefined 23, 2024
Asia’s first inverse Bitcoin ETF, launching in Hong Kong, allows investors to profit from Bitcoin’s decline. CSOP Asset Management's CSOP Bitcoin Futures Daily (-1x) Inverse Product will debut on Tuesday. Following a volatile period for Bitcoin, including a 12% drop last quarter, this ETF aims to capitalize on downturns. Bitcoin's recent volatility peaked at 38.3% in 2023, outpacing major assets. CSOP, which launched Asia’s first Bitcoin futures ETF in 2022, sees this new product as an opportunity to benefit from Bitcoin's price swings.
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