TechFlow news, on July 22, according to Bloomberg, CSOP Asset Management has announced it will launch in Hong Kong the Asia-Pacific region's first crypto-linked inverse ETF — the CSOP Bitcoin Futures Daily (-1x) Inverse Product — allowing investors to short bitcoin as prices rise. CEO Ding Chen of CSOP Asset Management said the product will be listed in Hong Kong on Tuesday morning.
An inverse ETF, also known as a short ETF or bear ETF, is an exchange-traded fund that uses leveraged instruments such as index futures and swap contracts to deliver a daily return that is the opposite of a certain multiple (e.g., -1x, -2x, or even -3x) of the target index’s performance.
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