CSOP to Launch Asia’s First Inverse Bitcoin ETF in Hong Kong
- CSOP targets $50 million to $100 million AUM over two years
- Inverse Bitcoin ETFs bet on negative moves in token’s price
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Hong Kong will play host to a new type of Bitcoin exchange-traded fund allowing investors to bet against the original cryptocurrency even as it rallies on US President Joe Biden’s decision to abandon his reelection bid.
CSOP Asset Management Ltd. will launch the Asia-Pacific region’s first crypto-linked inverse ETF — the CSOP Bitcoin Futures Daily (-1x) Inverse Product — in Hong Kong on Tuesday morning, according to the firm’s Chief Executive Officer Ding Chen.