Hong Kong To Launch First Asia-Pacific Inverse Bitcoin ETF
According to BlockBeats, on July 22, Bloomberg reported that CSOP Asset Management will launch the Asia-Pacific region's first inverse ETF linked to cryptocurrency. The CSOP Bitcoin Futures Daily (-1x) Inverse Product is set to debut on Tuesday morning in Hong Kong, as stated by the company's CEO.
An inverse ETF, also known as a short ETF or bear ETF, is a type of exchange-traded fund that uses leverage investment tools such as stock index futures and swap contracts to achieve a daily return that is the inverse of the target index's performance. This can be at a multiple of -1x, -2x, or even -3x.
