CSOP to launch Asia’s first inverse Bitcoin ETF in Hong Kong

CSOP Asset Management (CSOP) will launch the first inverse ETF linked to cryptocurrency in the Asia-Pacific region, the CSOP Bitcoin Futures Daily (-1x) inverse product, in Hong Kong on Tuesday morning. Note: Inverse ETF, also known as short ETF or bear ETF, is an exchange-traded open-end index fund that uses leveraged investment tools such as stock index futures and swap contracts to achieve a certain multiple (such as -1x, -2x or even -3x) of the daily tracking target index returns. Data shows that global cryptocurrency exchange inverse trading products have attracted about $106 million so far. (Bloomberg)