CSOP CEO: Striving to Launch Inverse Ethereum ETF
Hong Kong will launch a new type of Bitcoin exchange-traded fund that allows investors to bet on raw cryptocurrencies, despite US President Joe Biden's decision to abandon his re-election campaign. According to Chen Ding, CEO of Southern East English Asset Management Co., Ltd., the company will launch the first cryptocurrency-linked inverse ETF in the Asia-Pacific region on Tuesday morning in Hong Kong - Southern East English Bitcoin Futures Daily (-1x) Inverse Product.Chen said in an interview that raising assets of 50 million to 100 million US dollars for the reverse Bitcoin ETF in a few years is absolutely achievable. The company will charge a management fee of 1.99%.Chen said that some traders believe that the optimistic sentiment caused by Trump may "soon" push the price of Bitcoin to $100,000. She added that investors need to "either control risks or take other positions," but this may be challenging with the currently available products. Chen said that CSOP is still working on launching a reverse Ethereum ETF.
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