Hong Kong is set to launch Asia's first inverse Bitcoin ETF, allowing investors to bet on a fall in the cryptocurrency ¹ ² ³ ⁴ ⁵.
Key Details:
- Launch Date: The CSOP Bitcoin Futures Daily (-1x) Inverse Product will launch on July 23 ¹ ² ³ ⁵.
- Inverse ETF: The ETF is expected to take advantage of rising demand to profit from the volatile trading of cryptocurrencies ¹ ³.
- Bitcoin Volatility: Bitcoin has been the most erratic among major global assets in the last ten years, with volatility as high as 38.3% in 2023 ¹ ³.
- CSOP Asset Management: The ETF is managed by CSOP Asset Management, with HSBC as the trustee ⁵.
- Annual Fee: The ETF charges a 1.99% annual fee ⁵.
- Assets Under Management: The ETF aims to attract $50-100 million in assets under management in 1-2 years ⁵.