On November 15th, HKEX will launch the “HKEX Virtual Asset Index Series,” a digital asset index focused on BTC and ETH pricing.
This launch from HKEX marks a big step as Hong Kong works to expand its presence in the crypto market.
What is the HKEX Virtual Asset Index Series?
This new index series from HKEX will provide a single, reliable price for Bitcoin and Ether based on Asia-Pacific trading hours. By offering a consistent “benchmark” price, the HKEX aims to make it easier for investors to understand the true value of these digital assets in real time.
The index will use a volume-weighted average, meaning it gathers data from top-rated exchanges. Also, weighs the data by how much trading is going on. This method is intended to give a fair and accurate price for BTC and ETH throughout the Asian market.
HKEX is launching the HKEX Virtual Asset Index Series, supporting Hong Kong’s development as Asia’s leading #digitalassets hub. It will go live on 15 November 2024.
For more information, please visit: https://t.co/dDJMQ19kwy pic.twitter.com/zLC7qFGyDT
— HKEX 香港交易所 (@HKEXGroup) October 28, 2024
Why is This Important?
For investors, having a clear and trustworthy price for assets like Bitcoin and Ether is essential. Sometimes, prices vary a lot from one exchange to another, leaving investors scratching their heads. By providing a single reference price, the HKEX index aims to make things more transparent.
What makes the HKEX Virtual Asset Index Series stand out even more is that it meets the European Union Benchmarks Regulation (BMR) standards, making it the first of its kind in Hong Kong. Meeting these standards shows that HKEX is aiming to keep its index in line with global benchmarks, ensuring it’s reliable and credible on an international level.
It has been 25 years since HKEX listed its first ETF. Since then, Hong Kong has grown into Asia’s leading #ETP hub!
Register for the HKEX ETF Summit 2024 on 5 November, where industry leaders will discuss the market dynamics shaping the #ETF landscape. https://t.co/yMdV5Bt91W pic.twitter.com/cbJcDVUxUD
— HKEX 香港交易所 (@HKEXGroup) October 25, 2024
Hong Kong isn’t just stopping at a new index. It’s also planning to issue more licenses for digital asset exchanges by the end of the year. The Hong Kong Securities and Futures Commission (SFC) is actively working on this goal.
Disclaimer
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